For which goods could the demand slope curve upward?
A) Necessary goods
B) Prestige goods
C) Discretionary goods
D) Most goods

Question

Quizplus · Accepted Answer

The demand slope for prestige goods can curve upward because as the price of the good increases, the demand for it may also increase due to its higher perceived value and status symbol. This is known as the Veblen effect, named after economist Thorstein Veblen.

For Which Goods Could the Demand Slope Curve Upward