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31 July, 09:54

Why are prestige products often an exception to the law of demand?

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  1. 31 July, 10:15
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    The law of demand states that as the price of a good or service increases, consumer demand for the good or service will decrease, if all other factors are constant.

    Because increasing the price of prestige products can make them seem more desirable prestige products often an exception to the law of demand.
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