A good that is considered to be inferior to a consumer, may be observed as normal good to the another consumer. This is due to Option 1: Quality of the consumer Option 2: Income of the consumer Option 3: Quantity of the consumer Option 4: Producer of the good

The answer is 'Income of the consumer'. View full solution:

CUET Economics - A good that is considered to be inferior to a consumer, may be observed as normal good to the another consumer. This is due to | PYQs + Solutions

CUET Economics

Micro

Easy

Quality of the consumer

Income of the consumer

Quantity of the consumer

Producer of the good

✅ Correct Option: 2

Related questions:

22 May Shift 2

The rate at which the consumer is willing to substitute one good for the other is indicated by:

CUET Economics 2024 Slot 1

Which of the following are correct statements?

15 May Shift 1

Which of the following are true about indifference curves?

(A) All the points lying on an indifference curve provide the consumer with different levels of satisfaction.

(B) Indifference curves are convex to the origin due to law of Diminishing Marginal Rate of Substitution.

(D) In the case of perfect substitutes, indifference curves are straight lines.

Choose the correct answer from the options given below: