Question

Market demand curve for "Giffen" commodities may also be considered a normal good instead because _____________.

• A. it may not be Giffen good for all the consumers
• B. new buyers may enter the market with fall in prices
• C. it could be Giffen good for a small section of society
• D. all of the above

Answer 1

The correct option is D all of the above

Market demand curve for "Giffen" goods is not Giffen for all consumers, though it could be a Giffen good for a small section of the society. So, it could be negatively sloped as a normal demand curve.