The Law of demand can only be violated if a good is inferior.
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Q6: A parallel shift in the budget line
Q7: When the price of a good rises,the
Q8: An Engel curve shows the relationship between
Q9: If an Engel curve is downward sloping,then
Q10: In a two-good world,one good-but not both-can
Q12: Normal goods have upward-sloping Engel curves.
Q13: An inferior good is one for which
Q14: The (ordinary)demand curve for a normal good
Q15: The substitution effect insures that anytime there
Q16: An inferior good is only Giffen when
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