For Giffen goods price consumption curve will be

✅ Explanation:
-The price consumption curve (PCC) shows how the consumption of a good changes as its price changes, holding income and the price of other goods constant.
-For Giffen goods, the PCC is backward sloping. This is because, as the price of the Giffen good increases, the quantity demanded also increases due to the dominance of the income effect.

🔑Key Points:
A Giffen good is a low income, a non-luxury product that defies standard economic and consumer demand theory.
-Demand for Giffen goods rises when the price rises and falls when the price falls. In econometrics, this results in an upward-sloping demand curve, contrary to the fundamental laws of demand which create a downward sloping demand curve.
-The term "Giffen goods" was coined in the late 1800s, named after noted Scottish economist, statistician, and journalist Sir Robert Giffen.
-The concept of Giffen goods focuses on a low income, non-luxury products that have very few close substitutes. Giffen goods can be compared to Veblen goods which similarly defy standard economic and consumer demand theory but focus on luxury goods.
-Examples of Giffen goods can include bread, rice, and wheat. These goods are commonly essentials with few near-dimensional substitutes at the same price levels.
-Giffen goods are a rarity in economics because supply and demand for these goods are the opposite of standard conventions. Giffen goods can be the result of multiple market variables including supply, demand, price, income, and substitution. All of these variables are central to the basic theories of supply and demand economics.
-Giffen goods cases study the effects of these variables on low-income, non-luxury goods which result in an upward sloping demand curve.