Correct Answer: Negative income effect is greater than substitution effect

Solution : Income effect is greater than substitution effect in giffen goods. Giffen goods are the exceptions to the law of demand.
GIffen goods are those incredibly subpar products that, even if their prices go down, their demand goes down. Giffen products have a strong negative income effect, which indicates that when buyer income rises, so does consumer demand for these products.
Hence option d is the correct answer.