Why Are Prestige Products Often an Exception to the Law

question 46

Multiple Choice

Why are prestige products often an exception to the law of demand?

• A) The demand curve for prestige products slopes downward and to the right.
• B) Increasing the price of prestige products can make them seem more desirable.
• C) Demand for prestige products often is greater than supply.
• D) Prestige products such as diamonds, sapphires, and emeralds are nonrenewable resources.
• E) Customers are more aware of any price changes to prestige products.

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Definitions:

Mature Trees

Fully grown trees that have reached their full size and reproductive potential, playing a crucial role in ecosystems by providing habitat and maintaining biodiversity.

Seedlings

are young plants, especially trees, that have germinated from seeds and are in the early stages of growth.

Crown Fire

A wildfire that spreads from treetop to treetop, often out of control, and is more intense than a surface fire.