Question

Shape of demand curve for conspicuous consumption

Answer 1

Following are the instructions :

• Y - axis represents Price of veblen goods.
• X - axis represents Quantity of veblen goods.
• AB is veblen curve.

# Hope this helps.

Answer 2

Consumption means using, buying or eating something. If we don't reduce our energy consumption, we will run out of fuel. Conspicuous consumption is buying something to show off. Consumption is related to the verb consume, which means to eat, use, or buy.