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In the concept of giffen goods, consumers consume more when the price of the good rises. I wonder why is it, know that the subtitles
In the concept of giffen goods, consumers consume more when the price of the good rises. I wonder why is it, know that the subtitles effect do not work since there is no alternative cheaper product. Also i noice that if income is fixed, and the price of giffen raise up, isnt the demand drop because consumer can't afford to buy more product ??
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