A demand curve for a Giffen good would be
A) upward sloping.
B) downward sloping.
C) horizontal.
D) vertical.

Question

Quizplus · Accepted Answer

A Giffen good is a product for which an increase in price actually leads to an increase in quantity demanded. This type of good violates the law of demand, which states that when the price of a good increases, the quantity demanded decreases. On a graph, an upward-sloping demand curve represents the relationship between price and quantity demanded for a Giffen good.

A Demand Curve for a Giffen Good Would Be