Business Studies, asked by manoharc286, 10 months ago

prove that price effect is sum total of income effect and substitution effect for normal good. inferior good and giffen good. inferior good and giffen good

Answers

Answered by tejugana

Answer:

Giffen good is a low income, non-luxury product for which demand increases as the price increases and vice versa. A Giffen good has an upward-sloping demand curve which is contrary to the fundamental laws of demand which are based on a downward sloping demand curve.Mar 19, 2020

Explanation:

please mark me down as a brainliest answer ❣️

Previous Question

Next Question

Similar questions

Math, 5 months ago

Three boys are aged 2 years, 4 years and 8 years. They want to divide AED 70 in the ratio of their ages. How much money would each get?

English, 5 months ago

a) He lives in Guwahati. (Ask a question using "where") b) She does not like tea. (Add a tag question) I Shall never forget you. (Turn into interrogative)...

Math, 5 months ago

if 28% of matches were lost out of 25, then the team lost ____ matches...

Math, 10 months ago