French Luxury Goods Manufacturer and Retailer Hermès Is Known for Making

French luxury goods manufacturer and retailer Hermès is known for making expensive leather goods. But paying $300,168 for a handbag at auction, which is over the standard retail price of $280,000, is extraordinary, and not for the casual shopper. The handbag is considered a

A) product in demand.
B) inelastic product.
C) elastic product.
D) custom product.
E) prestige product.