Question: 1 ) Which statements explain a Giffen good? a ) Normal good, income effect is greater than substitution effect b ) Inferior good, income effect

1) Which statements explain a Giffen good?
a) Normal good, income effect is greater than substitution effect
b) Inferior good, income effect is lower than substitution effect
c) Normal good, income effect is lower than substitution effect
d) Inferior good, income effect is greater than substitution effect

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