Release Message: Increasing the price of bread makes poor people eat more of it. Authored by Sir Robert Giffen.
Description: Increasing the price of bread makes poor people eat more of it. According to the Law of Demand, when the price of a commodity falls the demand for it rises. Giffen's Paradox is an exception to this law. It is named after the 19th century British economist, Sir Robert Giffen, who found that when the price of bread fell, the demand for it also fell. This was because when the price fell, the real income of the consumer rose and she was in a position to buy better quality/more bread. Named BY ____ Marshall