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19-11-2021
Social Studies

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What is the name given to special products that when the cost increases, so does the demand?

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19-11-2021

Answer:

A Velben good

Explanation:

A Veblen good is a type of luxury good for which the demand for a good increases as the price increases, in apparent (but not actual) contradiction of the law of demand, resulting in an upward-sloping demand curve.

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