Question

    What is the demand curve for a Giffen good?

    A Downward sloping Correct Answer Incorrect Answer
    B Upward sloping Correct Answer Incorrect Answer
    C Perfectly elastic Correct Answer Incorrect Answer
    D Perfectly inelastic Correct Answer Incorrect Answer

    Solution

    The demand curve for a Giffen good is upward sloping, which means that as the price of the good increases, the quantity demanded also increases.

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