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Answer to Question #53135 in Economics of Enterprise for quija

Question #53135
Which product would be likely to be bought in the same quantity even if it doubled in price?
Expert's answer
The question is about Giffen goods. We will buy these goods in any case, even their price increases more and more. Examples of Giffen goods are bread and potatoes. As the rule, Giffen goods are goods of prime necessity.

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