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  • Demand, Supply, and Market Equilibrium
  • When consumer income rises, demand for Giffen goods
Multiple choice

When consumer income rises, demand for Giffen goods

  1. decreases

  2. rises

  3. becomes zero

  4. is infinite

  5. is negative

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

If a consumer has more money to spend, he would prefer a good quality product, so the demand for inferior goods will decrease.

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