9 RegisterLog in Sign up with one click: Facebook Twitter Google Share on Facebook Giffen good (redirected fromGiffen paradox) Financial Related to Giffen paradox:Giffen goods Giffen good Any good that is purchased in greater quantities as its price increases. ...
Demand for a product is, therefore, a function of its price and this relation can be mathematically depicted as: Qx= f(Px) Where,xis the product,Qxis the quantity demanded of the product andPxis the price of the product. Giffen's paradox constitute of those phenomena or demand scenarios...
Moreover, we show that Giffen behavior is compatible with any level of utility and an arbitrarily low share of income spent on the inferior good. This contrasts sharply with the common view that the Giffen paradox tends to occur when households’ wealth levels are low.Junko Doi...
Demand for a product is, therefore, a function of its price and this relation can be mathematically depicted as: Qx= f(Px) Where,xis the product,Qxis the quantity demanded of the product andPxis the price of the product. Giffen's paradox constitute of those phenomena or demand scenarios...
Moreover, we show that Giffen behavior is compatible with any level of utility and an arbitrarily low share of income spent on the inferior good. This contrasts sharply with the common view that the Giffen paradox tends to occur when households' wealth levels are low....
Moreover, we show that Giffen behavior is compatible with any level of utility and an arbitrarily low share of income spent on the inferior good. This contrasts sharply with the common view that the Giffen paradox tends to occur when households' wealth levels are low.These keywords were added...