Q.20. In case of giffen goods, a fall in price tends to reduce demand bcoz there is positive r/shp b/w price and dd. Giffen goods are high qlty inferior goods..
24. The ans. Is D. Means Both Griffin and veblen goods Because both are exceptions of LAW OF DEMAND mean law of demand does not operate for those kind of goods
Q12 mei ye toh ni likha hua ki price dec. Hua h toh hum ye bhi toh Maan sakte h ki inc. hua h islye qty of potato dec. Hui h..tb toh potato normal good hoga. Ye kaise pta chalega ki price kam hue h ya jyada?..pls koi bta do
Sir aapne ek video m kaha market failure arises coz of externality.... Or ek video m kaha market faliure arises due to externality dumping .. Mnz all of the above.... Which is correct one
Q...20 As a result, demand for a Giffen good rises (falls) when its price rises (falls). In other words, demand curve becomes positive sloping. ... Negative substitution effect causes quantity demanded to rise (fall) when price falls (rises). Here, the commodity is an inferior one since income effect is negative. Regards, Niloooo.
