Economy, asked by HEMANTHTHEROCKSTAR, 11 months ago

EXPLAIN GIFFEN'S PARDOX

Answers

Answered by heartkiller143

1

Explanation:

The Giffen Paradox is an exception to the law of demand which states an indirect relationship with price and demand as well as a direct relationship with income and demand. (When income increases, demand for a commodity also increases.) Giffen goods are nothing but inferior goods.

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