Giffen goods are said to violate the law of demand, as
people consume more of those goods as their price rises.
Could you provide an example of a Giffen good? How
would you draw the demand curve of such a good?
Giffen goods are said to violate the law of demand, as
people consume more of those goods as their price rises.
Could you provide an example of a Giffen good? How
would you draw the demand curve of such a good?
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