CBSE BOARD XII, asked by tutudas488, 3 months ago

write down a short note on giffen paradox

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Answered by babygirl5575

Answer:

The Giffen Paradox is an exception to the law of demand which states an indirect relationship with price and demand as well as a direct relationship with income and demand. (When income increases, demand for a commodity also increases.) Giffen goods are nothing but inferior goods.

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