When price of product falls, real income ofconsumer increases because

1.	When price of product falls, real income ofconsumer increases because he has to spend onlyless money to buy the same quantity is?
Answer» Answer: When the PRICE of a GOOD INCREASES relative to other similar goods, consumers will TEND to demand LESS of that good and increase their demand for the similar goods to substitute. ... Inferior goods are goods for which demand declines as consumers real incomes rise, or rises as incomes fall.

When price of product falls, real income ofconsumer increases because he has to spend onlyless money to buy the same quantity is?

Answer»

Answer:

When the PRICE of a GOOD INCREASES relative to other similar goods, consumers will TEND to demand LESS of that good and increase their demand for the similar goods to substitute. ... Inferior goods are goods for which demand declines as consumers real incomes rise, or rises as incomes fall.

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When price of product falls, real income ofconsumer increases because he has to spend onlyless money to buy the same quantity is?​

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When price of product falls, real income ofconsumer increases because he has to spend onlyless money to buy the same quantity is?