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

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Match List-I with List-II

List-I	List-II
(A) Marginal rate of substitution	(I) Slope of Budget line
(B) MUₓ/MUᵧ=Pₓ/Pᵧ	(II) more of at least one good and no less of the other good
(C) -(Pₓ/Pᵧ)	(III) Law of equi marginal utility
(D)Monotonic Preferences.	(IV) Slope of Indifference curve

Choose the correct answer from the options given below:

CUET Economics 2025 26 May Shift 2 PYQs