Describe briefly why the demand curve is upward-sloping
In theory, "Geffen good" is a good for which demand curve is upward-sloping, which violates law of demand. Give at least one example as a Geffen good and describe briefly why the demand curve is upward-sloping?
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Assume that Federal Government announced a tax rebate of $500 for all the individuals filing singly and $1000 for all families filing jointly or as head of household in upcoming tax year.
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