A Giffen Good Is a Good for Which an Increase

question 215

Multiple Choice

A Giffen good is a good for which an increase in the price

• A)decreases the quantity supplied.
• B)increases the quantity supplied.
• C)decreases the quantity demanded.
• D)increases the quantity demanded.

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Definitions:

Membranous Sacs

Enclosed structures within cells, bounded by lipid bilayers, that carry out various functions such as storage and transport.

Granular Body

Cytoplasmic structures composed of granules, found in various types of cells, often associated with the storage and secretion of substances.

RNA

Ribonucleic acid, a nucleic acid present in all living cells that acts as a messenger carrying instructions from DNA for controlling the synthesis of proteins.

Lipid Bilayers

A fundamental structure of cell membranes, consisting of two layers of lipid molecules with hydrophilic heads and hydrophobic tails.