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If the commodity is inferior then Income Effect (I.E) is:

A. Negative

B. Positive

C. Zero

D. Infinite

Correct Answer : A.


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  22. When the demand curve is rectangular hyperbola, it represents:
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  27. The main contribution of Malthus is in the field of:
  28. Ordinal approach includes arranging:
  29. Extension (expansion) and contraction of demand are result of:
  30. Who finalized the model of monopolistic competition?