Question: Explain intuitively why any normal good cannot possibly be a Giffen good. (You may wish to illustrate your answer with a budget line/indifference curve graph.)
Explain intuitively why any normal good cannot possibly be a Giffen good. (You may wish to illustrate your answer with a budget line/indifference curve graph.)
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A Giffen good arises when an income effec... View full answer
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