Assertion (A) When income increases, consumption expenditure also increases but by a smaller amount.
Reason (R) As income increases, our wants are satisfied side by side, so that the need to spend more on consumer goods diminishes.
Both (A) and (R) are true and (R) is the correct explanation of (A).
Both (A) and (R) are true, but (R) is not the correct explanation of (A).
(A) is true, but (R) is false.
(A) is false, but (R) is true.
