The demand for a Giffen good slopes upward.

Name: The demand for a Giffen good slopes upward.
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The demand for a Giffen good slopes upward, meaning that as the price of the good increases, the quantity demanded also increases. This occurs because the good is an inferior good with no close substitute, so as the price increases, consumers have less money to spend on other goods and are forced to consume more of the Giffen good.

The Demand for a Giffen Good Slopes Upward