______ is a type of good for which demand increases as its price rises ?Giffen Good Capital Good Consumer Good none
Question
Solution 1
The answer is Giffen Good. A Giffen Good is a type of good for which demand increases as its price rises, contrary to the law of demand. This typically occurs when the good is an inferior product and has no close substitutes. When the price of a Giffen Good increases, consumers will consume more of Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
Similar Questions
_____ is a type of good for which demand increases as its price rises ?Giffen Good Capital Good Consumer Good none
______ is a type of good for which demand increases as its price rises ?Giffen Good Capital Good Consumer Good none
Which term describes a demand curve that shows that no consumer will buy a good if the price increases even a little?A.FlatB.SteepC.HorizontalD.Vertical
If the price of X good rises then the demand of Y good also rises then both goodsare__
Inferior Good - A good that increases demand when consumer income decrease.Question 6AnswerTrueFalse