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Start learning 50% faster. Sign in nowAn inferior good is a good whose quantity demanded decreases when consumer income rises (or quantity demanded rises when consumer income decreases). In economics, a luxury good (or upmarket good) is a good for which demand increases more than proportionally as income rises Necessity Goods are those goods for which demand increases proportionally less than income.
A and B enter a partnership. A contributed 5000 for 8 months and B 6000 for 5 months. Find A's share in a total profit of 9800.