Economy, asked by malihanaaz005, 3 months ago

what is veblant good?

please explain with example

Answers

Answered by IshanY69

3

A Veblen good is a type of luxury good for which the demand for a good increases as the price increases, in apparent contradiction of the law of demand, resulting in an upward-sloping demand curve.

Answered by taesugk

1

EXAMPLE IS IN PIC

EXPLANATION :- A Veblen good is a type of luxury good for which the demand for a good increases as the price increases, in apparent contradiction of the law of demand, resulting in an upward-sloping demand curve.

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