The concept of a Giffen Good is discussed in most undergraduate economic textbooks. It is a concept that mostly stays in textbooks and lingers among other economic theories that stay as theories. But I thought it would fun here to explore it in a real-world setting. Also, by thinking about the question and watching the videos, students may gain a better understanding of demand curves and consumer behavior. A clothing boutique has been experiencing a high degree of attention/business lately for its "belt bag," which is a trendy shoulder bag that acts in a similar way as a purse. This bag is quite expensive, and some "shopping sleuths" have been theorizing that people are buying more of these bags as they get more expensive, implying some kind of perverse price effect: the higher price makes people want to buy more of them because they want to be the "trendiest kid on the block." This seems to defy the pure law of demand: When the price of good X rises, the consumption of good X falls, all else held constant. What is likely taking place here? Choose the correct answer below. a) a. what is being described in the language presented