In view of the fact that kerosene is an inferior good in India, what is/are its implication(s)?

1.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.

General Knowledge 2015 CDS GK 2015 CDS 2015

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