Question: 1...Assuming the same sized substitution effect, A. normal goods have steeper cross-price demand curves than inferior goods. B. None of the given choices C. normal

1...Assuming the same sized substitution effect,

A. normal goods have steeper cross-price demand curves than inferior goods.

B. None of the given choices

C. normal goods have same slope cross-price demand curves as that of inferior goods.

D. normal goods have shallower cross-price demand curves than inferior goods.

2....Tariq spends his entire income on two goods. One of them is a Giffen good.

A. If the price of the Giffen good falls, demand for the other good must fall.

B. If the price of the Giffen good rises, demand for the other good must fall.

C. If the price of the Giffen good rises, demand for the other good must also rise.

Answer these 2 mcqs... ASAP...

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