Q.
1

Assertion (A): The quantity of a product demanded invariably changes inversely to changes in its price.

Reason (R): The price effect is the net result of the positive substitution effect and negative income effect

  • A

    (A) and (R) both are correct.

  • B

    (A) is incorrect but (R) is correct

  • C

    (A) is correct but (R) is incorrect.            

  • D

    (A) and (R) both are incorrect.