Anand consumes lesser units of good X when its price falls but more units of X when his income rises. Which of the following statements is true about good X. Option 1: Good X is an inferior good for Anand but not a Giffen good. Option 2: Good X is a Giffen good for Anand but not inferior. Option 3: Good X is normal good for Anand. Option 4: Good X is both Inferior and Giffen good for Anand.

The answer is 'Good X is both Inferior and Giffen good for Anand.'. View full solution:

CUET Economics - Anand consumes lesser units of good X when its price falls but more units of X when his income rises. Which of the following statements is true about good X. | PYQs + Solutions

CUET Economics 2025 26 May Shift 2

Micro

Hard

Good X is an inferior good for Anand but not a Giffen good.

Good X is a Giffen good for Anand but not inferior.

Good X is normal good for Anand.

Good X is both Inferior and Giffen good for Anand.

✅ Correct Option: 4