Chantel, a resident of Denver, Colorado, decided to open up her own fine jewelry store. To do so, she used her life savings and a loan from the bank. Chantel was able to open up a store with sufficient inventory. She markets the jewelry as the "finest jewelry in the West." The most popular item Chantel sells is a rose gold bracelet that sells for $550. During one month, Chantel's fixed costs are $6,000. Her variable costs average about $400.

Refer to Scenario 19.1. Chantel decided to raise the price of her rose gold bracelets even higher to $750. To her surprise, though, demand went down. Based on this information, the rose gold bracelets are most likely a(n)_______ product.

a. competitive

b. fixed product

c. elastic

d. prestige