An inferior good is only Giffen when the substitution effect exceeds the income effect.
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Q11: The Law of demand can only be
Q12: Normal goods have upward-sloping Engel curves.
Q13: An inferior good is one for which
Q14: The (ordinary)demand curve for a normal good
Q15: The substitution effect insures that anytime there
Q17: An inferior good is one that is
Q18: If the price of a non-Giffen good
Q19: Parallel shifts in the budget line are
Q20: All Giffen goods must be inferior goods,but
Q21: Which of the following is not held
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