Economics · Microeconomics - Demand and Consumer Behaviour
Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R). Read the statements and choose the correct answer from the options below. Assertion (A): A price reduction leads to an increase in the quantity demanded of a normal commodity. Reason (R): It results from price effects comprising income and substitution effects which are always positive for all types of goods.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both (A) and (R) are incorrect.
- 2(A) is correct, but (R) is incorrect.✓
- 3Both (A) and (R) are correct, but (R) is not the right explanation of (A).
- 4Both (A) and (R) are correct and (R) is the right explanation of (A).
Correct answer
(A) is correct, but (R) is incorrect.
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