In some cases, supply curves are vertical, which means that for any price from 0 up to infinity, the quantity will stay the same.
This is very true for supply of an authentic painting in auctions, where there may only be 1 single painting, and people state the highest price they are willing to pay for the painting. Regardless of the price, there will only be 1 authentic painting for that price.
Hope this helps! :)
Answer:
Explanation:
Find attached The compliance act policy for coding that talk about the various source code for diifrent organization
When the chocolate store charges high prices for its chocolates because high prices is associated with superior quality, then, it is an example of prestige pricing.
Prestige pricing refers to a pricing strategy where prices are set high because people believed that high product price is related to superior quality.
Example of product where prestige pricing is applied includes luxury phones, watches, perfumes, luxury automobiles etc.
Therefore, when the chocolate store charges high prices for its chocolates because high prices is associated with superior quality, then, it is an example of prestige pricing.
Learn more about this here
<em>brainly.com/question/15577913</em>