CUET Economics 2025 26 May Shift 2 - 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

Related questions:

29 May Shift 1

Arrange the following stages of Consumer's Equilibrium in the correct sequence under the utility analysis

(A) Marginal Utility becomes equal to the price of a commodity

(B) Marginal utility, derived from a commodity X is greater than Px

(D) The consumer reallocates expenditure to maximize satisfaction.

Choose the correct answer from the options given below:

28 May Shift 1

Which of the following would appropriately define a budget set?

$P_1X_1+P_2X_2 \ge M$ .
$P_1X_1+P_2X_2 < M$ .
$P_1X_1+P_2X_2 > M$ .
$P_1X_1+P_2X_2 \le M$ .

16 May Shift 1

"If and only if between any two bundles, the consumer prefers the bundle which has more of at least one of the goods and no less of the other good as compared to the other bundle". Such preferences are known as

Monotonic Preference.
Structured Preferences.
Sequential Preferences
Irregular Preferences.

CUET Economics 2025 26 May Shift 2 PYQs

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