Economy, asked by shatikjayin3128, 1 year ago

What is the meaning of positive relationship of giffen paradox

Answers

Answered by priyankagoyal9june
1

giffen goods are highly inferior goods showing of very high negative income effect

it shows a positive relationship between demand and price because law of demand fails in giffen goods

positive relationship means that with increase in price of giffen goods increases the demand of giffen goods and Vice versa

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