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market for a good is in …

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market for a good is in equilibrium income of the consumer consuming inferior goods increases explain chain of effect of this change
  • 1 answers

Akshita Yadav 6 years, 11 months ago

Inferior goods have negative relation with income. Demand for such goods falls when income of the consumer rises. Hence demand curve will shift back word. Price will fall with a fall in quantity demanded. Equilibrium will shift leftword.
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