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If upscale manufacturers of prestige products like BMW autos, Tiffany glass, or Rolex watches offered lower-priced products, what might happen to the demand for their products? Why?
Please be specific and atleast two long paragraphs of good information. No word count needed.
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Rolex, BMW autos, and Tiffany are prestige products that are considered inelastic
currently. The prices slapped on these products have become insensitive because of the
extraordinary situation of the organization and quality. If these firms de...
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