What does the demand curve for a prestige product look like?
A) It is a straight line where the quantity sold continues to increase as the price of each product increases.
B) It is a curve where the highest and the lowest prices yield the greatest quantity sold and mid-range prices produce the fewest sales.
C) It forms a curve where the greatest quantity sold comes at a medium price and the quantities fall as the price increases or decreases.
D) It forms a straight vertical line because of the prestige of the product, and quantity sold will remain stable regardless of the price.
E) It slopes from left to right at a very mild slope, and as quantity increases, price decreases slowly.

Question

Quizplus · Accepted Answer

The demand curve for a prestige product typically forms a curve where the greatest quantity sold comes at a medium price, as both very high and very low prices can decrease the perceived prestige and desirability of the product.

What Does the Demand Curve for a Prestige Product Look