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Question
What is the effect of income of demand for normal goods?
What is the effect of income of demand for normal goods?
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Solution
The correct option is D Positive
The effect of change in income on consumer’s demand depends upon the nature of commodity. Normal goods are those goods, the demand for which increases with the increase in income of the consumers. Hence, there is a positive effect.
Positive
The effect of change in income on consumer’s demand depends upon the nature of commodity. Normal goods are those goods, the demand for which increases with the increase in income of the consumers. Hence, there is a positive effect.
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