For a giffen good, when price falls

Related MCQs

• Engel curve for giffen good is
• A consumer will start buying less of good- X and more of Good-Y, when
• Suppose a rise in the price of peaches from Rs.5.50 to Rs. 6.50 per bushel decreases the quantity demanded from 12,500 to 11,500 bushels. The price elasticity of demand is
• A good with a vertical demand curve has a demand with
• Substitution effect takes place when price of the commodity becomes:
• Price effect is
• The price elasticity of demand can range between
• If the price elasticity is between 0 and 1, demand is