Solved UPSC CDS/OTA Question
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Q · Law of ElasticityMedium · 45s
If income elasticity of demand for a commodity is negative, then it is a:
TopicLaw of Elasticity
Question Typemultiple choice
DifficultyMedium
Marking+1 / −0.33
Test Duration30 min
Step-by-Step Solution
The complete worked solution.
Every step explained — no skipped algebra.
Inferior goods have negative income elasticity – demand falls as income rises.
Final Answer: Option C — Inferior good