why giffen good is an exception of the law of demand??
Answers
Answered by
2
Answer:
A Giffen good is considered to be an exception to the Law of Demand. The unique features of a Giffen good results in quantity demanded increasing when there is an increase in price. ... It's when consumers consume more of an inferior good when the price of the good rises, which is in direct violation of the Law of Demand
Similar questions