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Indian Economy
__________________ is a good whose quantity demanded decreases when consumer income rises.
Veblen good
normal good
exclusive good
inferior good
Correct Answer:
inferior good
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Indian Economy
If price of an article decreases from Rs P1 to Rs 75, quantity demanded increases from 1000 units to 1200 units. If point elasticity of demand is 3.2 findmP1?
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