In View of the Fact that Kerosene is an Inferior Good in India :
In view of the fact that kerosene is an inferior good in India, What is/are its implication(s)?
As households get richer, they consume less kerosene.
2. Over time there is a decline in quality of kerosene
3. Government needs to stop subsidies on kerosene.
Select the correct answer using the code given below.
(a) 1 only (b) 1 and 2 only (c)2 and 3 only (d) 1, 2 and 3