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Giffen commodities are those commodities

Economics
WAEC 1995
Giffen commodities are those commodities
  • A. which gives rise to a cobweb situation
  • B. for which demand increases as price increases
  • C. which have a low price elasticity of demand
  • D. which are in short supply
  • E. which have a high income elasticity of demand
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Correct Answer: Option B
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