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1 year ago

If a firm sells a prestige product, what kind of relationship between price and quantity demanded should it expect?.

1 answer:

3 0

For a firm that sells a prestige product, the relationship between price and quantity demanded is a <u>positive direct relationship</u>.

<h3>Why is the relationship between demand and price of prestige products direct?</h3>

The relationship between the demand and price of prestige products is direct because prestige products tend to sell better at high prices than at low prices.

And when the quantity demanded increases, the price tends to increase.

An example of a prestige product is an old car.

Thus, for a firm that sells a prestige product, the relationship between price and quantity demanded is a <u>positive direct relationship</u>.

Learn more about the demand for prestige products at brainly.com/question/6374886

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Billy Mitchell covering his gambling debts, issuing several refund credits to his personal credit card for amounts that were below the store’s review limit is an example of fictitious refund scheme.

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