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  • Different Goods (Normal, Inferior)

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    oyuka oyunbolor
    6 views1 page
    The document contains graphs and text about normal goods, inferior goods, and Giffen goods. It shows how demand curves and budget lines behave for each type of good. Normal goods have demand curves that slope downward, while inferior and Giffen goods have upward-sloping demand curves due to income effects outweighing substitution effects.

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    The document contains graphs and text about normal goods, inferior goods, and Giffen goods. It shows how demand curves and budget lines behave for each type of good. Normal goods have demand curves that slope downward, while inferior and Giffen goods have upward-sloping demand curves due to income effects outweighing substitution effects.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views1 page

    Different Goods (Normal, Inferior)

    Uploaded by

    oyuka oyunbolor
    The document contains graphs and text about normal goods, inferior goods, and Giffen goods. It shows how demand curves and budget lines behave for each type of good. Normal goods have demand curves that slope downward, while inferior and Giffen goods have upward-sloping demand curves due to income effects outweighing substitution effects.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Normal Interior

    Income Income
    Doesn'tviolateaxioms
    B
    Tangencyis diffbut
    Interior indie
    30 30 budgetline
    movedoutwards
    20 20
    10 10 Normal

    h 8 he foods 4 8 12 Foods

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    PAH sewed for substitutegoods ok ol Q

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