Question

Goods whose demand is proportional to price are called

Answer 1

hey there !!

Goods whose demand is proportional to price are called Veblen good .

they are mainly the luxurious item .

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Answer 2

hey!!

the goods whose demand is proportional to price are called Veblen goods

Veblen goods are a type of luxury goods for which the quantity demanded increases as the demand for that product increases the price too increases it can be said as an apparent contradiction of the law of demand. and one of the best part of these products are usually consumers prefer more of the goods whose value is more. which will be a good profit to the manufacturer.

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