A Giffen Good Is One for Which the Quantity Demanded

question 212

Multiple Choice

A Giffen good is one for which the quantity demanded rises as the price rises because the income effect

• A)reinforces the substitution effect.
• B)reinforces and is greater than the substitution effect.
• C)counteracts but is smaller than the substitution effect.
• D)counteracts and is greater than the substitution effect.

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