The demand curve for a luxury good is upward sloping.

Name: The demand curve for a luxury good is upward sloping.
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The demand curve for a luxury good is typically downward sloping, like most goods, because as the price decreases, the quantity demanded generally increases. However, certain luxury goods may exhibit a Veblen effect, where higher prices can lead to higher demand due to perceived exclusivity, but this is not the norm for all luxury goods.

The Demand Curve for a Luxury Good Is Upward Sloping