With only two goods,if the income effect is in the opposite direction as the substitution effect but the substitution effect dominates then the good is
A)normal
B)inferior but not Giffen
C)Giffen
D)There is not enough information to answer.

Name: With only two goods,if the income effect is in the opposite direction as the substitution effect but the substitution effect dominates then the good is A)normal B)inferior but not Giffen C)Giffen D)There is not enough information to answer.
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Question

Quizplus · Accepted Answer

The Answer is B

With Only Two Goods,if the Income Effect Is in the Opposite