## Answers

Ans 1 C.) change in price of K.

Question is about change in demand for good K

so factors determining demand for product are:

1.change in price of close substitute.

2.increase in consumer income

3.change in consumer taste and prefrences

******* Change in price changes Quantity demanded not Demand*******

Ans 2 is correct

Ans 3 D By definition of inferior good, Inferior goods are those goods whose demand increases when income decreases.They are opposite of Normal goods. In general we deal with normal goods.

Ans 4 is correct

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