wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

The income demand curves of the Giffen goods have a ________.

A
negative slope
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
downwards slope to the right
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
both (A) and (B)
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
D
positive slope
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is B both (A) and (B)
The income demand curves of the Giffen goods have a negative slope and downward slope to the right.. It indicates the inverse relationship between the income of the consumer and the demand of the Giffen goods.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
National Income Accounting
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon