Economy, asked by manya152004, 8 months ago

why giffen good is an exception of the law of demand??

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Answered by kyaman60

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

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