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28 Sep 2019
(a) Giving examples, explain the difference between:
(i) an inferior good and a normal good;
(ii) substitute and complementary goods.
(b) Carefully explain what happens to the demand for a Giffen good as its price rises.
(a) Giving examples, explain the difference between:
(i) an inferior good and a normal good;
(ii) substitute and complementary goods.
(b) Carefully explain what happens to the demand for a Giffen good as its price rises.
Chika IlonahLv10
28 Sep 2019