Question
What is the slope of the Engel curve for a Giffen good?
Solution
For a Giffen good, as income increases, the quantity demanded actually decreases because these goods are inferior goods with a strong income effect that outweighs the substitution effect. Therefore, the Engel curve, which shows the relationship between income and the quantity demanded, is negatively sloped for a Giffen good.
Which of the following crops has not been identified as a focus crop under the Agricultural Export Policy?
Which type of maize is mainly grown in India?
Water shoot pertain to
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Quiescent centre is found in plants at
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