Giffen Good ·
When Raising the Price Makes the Poor Buy More of It
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.com · upward-sloping demand · income vs substitution effect
Price
—
Quantity
—
State
—
Standard demand (P↑ ⇒ Q↓)
Giffen demand (P↑ ⇒ Q↑)
Meat (luxury)
Potato (necessity)
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.com · Giffen Good