The fact that a Giffen good might exist:

Name: The fact that a Giffen good might exist:
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The law of demand states that as the price of a good increases, the quantity demanded decreases, ceteris paribus. The existence of a Giffen good, which is a rare exception where the quantity demanded increases as the price increases, does not negate the law of demand but rather demonstrates that it is not an absolute law and that there are exceptions to it.

The Fact That a Giffen Good Might Exist