Consider the following statements:Other things remaining unchanged, market demand for a good might increase if1. Price of its substitute increases2. Price of its complement increases3. The good is an inferior good and income of the consumers increases4. Its price fallsWhich of the above statements are correct? - Study24x7
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Ankit Rathi
04 Dec 2023 12:19 PM study24x7 study24x7

Consider the following statements:
Other things remaining unchanged, market demand for a good might increase if
1. Price of its substitute increases
2. Price of its complement increases
3. The good is an inferior good and income of the consumers increases
4. Its pr...

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A

1 and 4 only

B

2, 3 and 4

C

1, 3 and 4

D

1, 2 and 3

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