The most common examples given of this hypothetical good are gruel and potatoes during the Irish famine, not perfume as Maxx Barry might have us believe. Many economists, thou
The most common examples given of this hypothetical good are gruel and potatoes during the Irish famine, not perfume as Maxx Barry might have us believe. Many economists, though, do not believe these goods exist but are instead theoretical consequences of the Slutsky equation. For ten points, name this type of inferior good, for which demand varies proportionately to price.
The most common examples given of this hypothetical good are gruel and potatoes during the Irish famine, not perfume as Maxx Barry might have us believe.
{Giffen} good (prompt on “{inferior} good” before it is read in the question).