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2a. Consider two goods: x and y where y is a composite good. Suppose that x is a Giffen good. Graphically derive the demand

Consider two goods: x and y where y is a composite

2a. Consider two goods: x and y where y is a composite good. Suppose that x is a Giffen good. Graphically derive the demand curve for this Giffen good based on the indifference curve framework by working out the optimal consumption choices when the price of good x changes. 2b. Do Giffen goods exist in reality? Explain.

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