According to the law of demand, when the price of a Gucci handbag increases, the quantity demanded for these goods will also increase because the goods have become more prestigious.

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According to the law of demand, as the price of a product increases, the quantity demanded for that product will decrease. Therefore, when the price of a Gucci handbag increases, the quantity demanded for these goods will also decrease, assuming all other factors remain constant. The idea that the demand for luxury goods increases with price is known as the Veblen effect, but it is an exception to the law of demand.

According to the Law of Demand, When the Price of a Gucci