Exception to the Law of Demand.docx

Exception to the Law of Demand.docx - Exception to the Law...

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Exception to the Law of Demand [email protected] Exception to the Law of Demand: Name: Institution:
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Exception to the Law of Demand There are some particular goods which tend to seek a set rise or even fall with the price in a given positively associated relationship. This basically happens regarding goods that tend to lack close substitutes. These are typically the Giffen goods or Veblen goods. The Giffen goods are
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