Giffen goods are goods ___________.
A. for which demand increases as price increases.
B. which have a high income elasticity of demand.
C. which have a low cross elasticity of demand.
D. which are in very short supply.
Answer:A
Giffen goods are goods ___________.
A. for which demand increases as price increases. B. which have a high income elasticity of demand. C. which have a low cross elasticity of demand. D. which are in very short supply.