In case of Giffen's Paradox, the slope of demand curve is:
(a) negative (b) positive
(c) parallel to X-axis (d) parallel to Y-axis
Answers
Answered by
4
Answer:
b) positive.
Explanation:
In the case of 'Giffen goods' there is direct price demand relationship. Therefore the demand curve is upward sloping to the right which is contrary to the fundamental law of demand, which states that the quantity demanded for a product falls as the price increases, resulting in a downward slope for the demand curve.
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Answered by
1
Answer:
(b) positive
Explanation:
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