Consider the following statements:
Other things remaining unchanged, market demand for a good might increase if
- Price of its substitute increase
- Price of its complement increases
- The good is an inferior good and the income of the consumers increases
- Its price falls
Which of the above statements is correct?
1
1 and 4 only
2
2, 3 and 4
3
1, 3 and 4
4
1, 2 and 3