Violation of Law of demand occurs when:
A. Negative income effect is greater than substitution effect
B. Negative income effect is less than substitution effect
C. Income effect is negative
D. Substitution effect is negative
Answer:A
Violation of Law of demand occurs when:
A. Negative income effect is greater than substitution effect B. Negative income effect is less than substitution effect C. Income effect is negative D. Substitution effect is negative