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Match the items of List I with items of List II...

This question belongs to Commerce Economics
Economics
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Match the items of List I with items of List II and indicate the correct matching.
List-I List-II
a. Non-price quantity relationships of demand 1. Extension and contraction of demand
b. Income effect of a price rise greater than its substitution effect 2. Ordinal utility approach
c. Transitivity and consistency of choices 3. Increase and decrease in demand
d. Price quantity relationships of demand 4. Giffen goods

Answer & Solution
Correct Answer: Option C
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