A columnist on forbes.com discussed a proposal in the United Kingdom to have a minimum price for

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A columnist on forbes.com discussed a proposal in the United Kingdom to have a minimum price for alcohol. He wondered whether heavy drinkers would “reduce their consumption or whether they’ll just substitute away from other things. . . . Really, is alcohol a Giffen Good for a heavy drinker?” Explain his reasoning that alcohol may be a Giffen good for heavy drinkers.

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Macroeconomics

ISBN: 9780135801741

8th Edition

Authors: Glenn Hubbard, Anthony Patrick O Brien

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