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

Question

Quizplus · Accepted Answer

The law of demand states that as the price of a good increases, the quantity demanded will decrease, not increase. While it is true that some goods may be seen as more prestigious as their price increases, this does not necessarily mean that the quantity demanded will increase.

According to the Law of Demand,when the Price of a BMW