Economics · Microeconomics
If the income effect for a good operates in the opposite direction to the substitution effect but the substitution effect still dominates, then the good is classified as a/an:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Normal good
- 2Inferior good✓
- 3Giffen good
- 4Veblen good
Correct answer
Inferior good
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