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Can you tell whether a good is normal or inferior by looking at the shape of a single indifference curve? Explain your answer. No. To
Can you tell whether a good is normal or inferior by looking at the shape of a single indifference curve? Explain your answer.
No. To show inferiority and normality, we need to show optimal bundles at two different income levels. This will require at least two indifference curves.
Please explain the reasoning behind it, and prefer drawing with a graph thanks
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