If income effect works in the direction opposite to that of substitution effect, the good is not:

by
Question:

If income effect works in the direction opposite to that of substitution effect, the good is not:

A.

Giffen good

B.

Inferior good

C.

Normal good

D.

Superior Good

Answer» c. Normal good

Note: The above multiple-choice question is for all general and Competitive Exams in India.