Examlex
Use Part 1 of the Fundamental Theorem of Calculus to find the derivative of the function.
Select the correct answer.
Income Effect
The impact on consumer's choice arising from a change in their income, influencing their purchasing power.
Giffen Good
A type of inferior good for which demand increases as the price increases, violating the basic law of demand.
Inferior Good
A type of good whose demand decreases when consumer income rises, and vice versa, often contrasted with normal goods whose demand increases with rising income.
Normal Good
A good for which demand increases when consumer income rises, and decreases when consumer income falls.
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