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When income of the consumer increases then demand curve of an inferior good:

A. Shifts rightward

B. Shifts leftward

C. Does not shift

D. None of the above

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. Marshalls definition of economics was strongly criticised by:
  2. According to Marginalists, the price of any commodity is determined by:
  3. According to critics, the assumption of costless production is:
  4. The optimum level of output in long run takes place where:
  5. AR curve under perfect competition:
  6. The falling part of total Utility (TU) curve shows:
  7. If a person behaves against the laws of economics then:
  8. Ceteris paribus clause in the law of demand means:
  9. The standard form of demand function is:
  10. According to Marshal, the Law of Diminishing Marginal Utility:
  11. All the firms with identical costs under perfect competition well, in the long-run, earn only:
  12. An increase in the price of the good measured on the horizontal axis causes:
  13. In second degree price discrimination, monopolist takes away :
  14. A profit-maximizing monopolist in two separate markets will:
  15. General equilibrium is concerned with simultaneous equilibrium of:
  16. Some economists refer to iso-product curves as:
  17. In real life firms:
  18. In cournot model, firms face:
  19. The feasible part of the demand curve for the monopolist who is charging high price will be:
  20. Economics is a:
  21. If there are many producers, each of whom has an individual production possibility curve, then the lowest…
  22. Equilibrium of a firm represents maximization of profits as well as:
  23. An individual consumers demand is not determined by:
  24. If a consumer buys a product that costs Rs.3 and provides an additional 18 units of satisfaction, then…
  25. Marginal utility means:
  26. If the slope of the isoquant is equal to the slope of isocost, then isoquant is:
  27. If the factors have to be employed in a fixed ratio, then the elasticity of substitution under Leontief…
  28. The law of demand is most directly a result of:
  29. The game theory is concerned with:
  30. Contraction of demand means: