Question

    Which one of these is an exception to the law of demand?

    A Veblen effect Correct Answer Incorrect Answer
    B Giffen's goods Correct Answer Incorrect Answer
    C Income change Correct Answer Incorrect Answer
    D All of the above Correct Answer Incorrect Answer

    Solution

    The taste and preference of the buyers are always the same. The three exceptions to the law of Demand are Giffen goods, Veblen effect, and income change.

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