When marketers at The Honey Company tried to determine demand for their product, they found that at 50 pence, consumers wanted 2,000 jars; at £1.00, they wanted 6,000 jars; and at £1.50 they wanted 4,000 jars. What can the company conclude? A)Honey has a normal demand curve. B)It has an elastic product. C)It has an inelastic product. D)Honey is a prestige good.

When marketers at The Honey Company tried to determine demand for their product,
they found that at 50 pence, consumers wanted 2,000 jars; at £1.00, they wanted 6,000 jars;
and at £1.50 they wanted 4,000 jars. What can the company conclude?
A)Honey has a normal demand curve.
B)It has an elastic product.
C)It has an inelastic product.
D)Honey is a prestige good.
by

1 Answer

Answer :

D)Honey is a prestige good.
by

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