What Does the Demand Curve for a Prestige Product Look

question 143

Multiple Choice

What does the demand curve for a prestige product look like?

• A) It is a straight line where the quantity sold continues to increase as the price of each product increases.
• B) It is a curve where the highest and the lowest prices yield the greatest quantity sold and mid-range prices produce the fewest sales.
• C) It forms a curve where the greatest quantity sold comes at a medium price, and the quantities fall as the price increases or decreases.
• D) It forms a straight vertical line because of the prestige of the product, and quantity sold will remain stable regardless of the price.
• E) It slopes from left to right at a very mild slope; that is, as quantity increases, price decreases slowly.

---

Definitions:

Trimethylbenzene

This is an aromatic hydrocarbon with three methyl groups attached to its benzene ring, often found in petroleum and used as a solvent or chemical intermediate.

Acceptable Name

A name for a chemical compound that conforms to the nomenclature rules established by the relevant scientific body, such as IUPAC, and is universally recognized.

Methyl Phenyl Ketone

An organic compound, also known as acetophenone, with the formula C8H8O, characterized by a benzene ring attached to a carbonyl group.

Accepted Name

The officially recognized name for a chemical substance or compound according to specific naming conventions or regulatory authorities.