In the case of Veblen goods, demand curve will slope: • A Veblen good

SOLUTION

• A Veblen good is a good for which demand increases as the price increases since these goods are exclusive & considered as status symbol.

• Example-Swiss Watches

• A Veblen good has an upward-sloping demand curve.

• Giffen goods are inferior products, in contrast to Veblen goods.