Give meaningof an inferior good and explain the same with the help of

1.	Give meaningof an inferior good and explain the same with the help of an example.
Answer» SOLUTION :When with the rise in income of a consumer , the consumer buys less QUANTITY of a good , then that good is an inferior good for that consumer . Suppose , when the consumer's income rises , he buys less of coarse cloth and PURCHASES more fine cloth, then for that consumer SPECIFICALLY coarsecloth is an indifference good.

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