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Price and demand are positively correlated in case of
- ANormal goods
- BComforts
- CGiffen goods
- DLuxuries
Correct answer: C
Discussion 1
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CCommunity
Giffen goods
Price and demand are positively correlated in case of Giffen goods. A Giffen good is a product for which demand increases as the price increases and falls when the price decreases.
Price and demand are positively correlated in case of Giffen goods. A Giffen good is a product for which demand increases as the price increases and falls when the price decreases.