Giffen goods are theoretical and would have an upward-sloping demand curve.
Has postive suubstitution effect and negative income effect.
Its income effect is larger than substitution effect, so when price decreases, Q also decreases.
Giffen goods
last year by aoddl94 (69)
$2.63
- Past Payouts $2.63
- - Author $1.32
- - Curators $1.31
14 votes
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Upvoted! Thank you for supporting witness @jswit.
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