If a good is inferior, then the consumer buys more of it when their income decreases, and less when their income increases.
Let's think about the scenario given. The consumer has two goods available, and when their income decreases, they buy more of both goods. How is this possible? The consumer's budget set has shrunk, so the total value of what they buy must go down, but we're predicting that consumption of each good goes up. We therefore must conclude that it is impossible for both goods to be inferior.
To create employment opportunities for women ________ has collaborated with the UN Women for LINK women project worth USD 5,00,000.
Forbes, world best employer company?
Who has been roped as the brand ambassador of the men’s grooming brand UrbanGabru recently?
Which city in Uttar Pradesh is renowned for its educational institutions and universities?
DIVYA KALA MELA 2022 is being organised in _____ ?
The One-time password (OTPs) can be obtained by a customer, via which among the following?
Recently on 20th August, 2022 _____ former state governor Syed Sibtey Razi passed away.
The most important cash crop of Uttar Pradesh is?
Who is appointed as the CEO of Prasar Bharati?
Who won the first Gold medal for India at the IWF Junior World Championships in Heraklion, Greece under the 45kg weight category?