2 years 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

You might be interested in

A good example of a ______________ offense is selling alcoholic beverages to a minor

laila [671]

Minor criminal offense, specifically a strict liability offense. Strict liability refers to an offense made regardless of the the intent of action. In other words, even if you have no malicious intent, you are still liable for the offense. Another example is possession of drugs.

4 0

3 years ago

When working on a major project which is not a good step for keeping the overall scope in mind

Sladkaya [172]

Yeah I’m John quiñones

4 0

3 years ago

Read 2 more answers

On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. Flores uses

PtichkaEL [24]

Answer:

Following are the solution to this question:

Explanation:

In all the given choices some of the data is missing so, its correct entry can be defined as follows

Cash account $7,840

Sales discount $160

To Accounts receivable $8,000

8 0

3 years ago

When the market for standalone Global Positioning System (GPS) devices declined with the arrival of GPS-enabled mobile phones, M

Ymorist [56]

Consolidation strategy

(Im not 100% sure)

4 0

3 years ago

Cragmont has beginning equity of $277,000, net income of $63,000, withdrawals of $25,000 and no additional investments by owners

Andrew [12]

<span>The ending equity is $315,000 This is just a matter of adding income and subtracting withdraws. So let's do it. "Cragmont has beginning equity of $277,000," x = $277000 "net income of $63,000" x = $277000 + $63000 = $340000 "withdrawals of $25,000" x = $340000 - $25000 = $315000</span>

3 0

3 years ago