When can the demand curve be positively sloping?
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A Giffen good has an upward-sloping demand curve which is contrary to the fundamental laws of demand whichare based on a downward sloping demand curve. Demand for Giffen goods is heavily influenced by a lack of close substitutes and income pressures.
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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. Demand for Giffen goods is heavily influenced by a lack of close substitutes and income pressures.
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