A Giffin good is one in which the _____ curve is _____ sloping.
A)supply;downward
B)demand;downward
C)supply;upward
D)demand;upward

Name: A Giffin good is one in which the _____ curve is _____ sloping. A)supply;downward B)demand;downward C)supply;upward D)demand;upward
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Question

Quizplus · Accepted Answer

Giffen goods are an exception to the typical law of demand, where the demand curve slopes upward because as the price increases, consumers buy more of the good, contrary to the usual downward sloping demand curve for normal goods.

A Giffin Good Is One in Which the _____ Curve