1.8. In the world of fashion, the power to imitate a trendy look is the power to...
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1.8. In the world of fashion, the power to imitate a trendy look is the power to make money.
Stores such as H&M and Forever 21 focus on imitating fashions wherever possible: As soon as they see that a new look is corning along, something people are willing to pay a high price for, they start cranking out that look.
Do these imitation-centered stores make the supply of clothing more elastic or less elastic?
How can you tell?
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Related Book For
Modern Principles Microeconomics
ISBN: 9781429239998
2nd Edition
Authors: Tyler Cowen, Alex Tabarrok
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