The demand of luxury cars decline if the price of the luxury cars declines as the prestige

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The demand of luxury cars decline if the price of the luxury cars declines as the prestige associated with having a luxury car also declines. Does this statement contradict the law of demand? Explain the answer with the help of supporting statements.

Posted Date: Jun 22, 2024 08:02 PM

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The demand of luxury cars decline if the price of the luxury cars declines as the prestige

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