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What is BEHIND BOND'S ASTON MARTIN'S? The Evidence showed that the demand for Aston Martin cars substantially increased when they were featured in James Bond

What is BEHIND BOND'S ASTON MARTIN'S?

The Evidence showed that the demand for Aston Martin cars substantially increased when they were featured in James Bond filmsthus allowing the manufacturer to charge higherprice.

a) Does it meant that the price elasticity of demand for Aston Martin cars become more elastic?or inelastic?What factors (determinants) contribute to this situation? Identifyat least 3 relative determinants.

b) The price of Aston Martin cars increases, at the same time, we saw that the demand for Aston Martin cars substantially increased as well. Does it mean that the demand for Aston Martin cars face conflict with the Law of Demand, hence slopes upward?Explain.

c) Is it correct to say that:"The demand for Ferrari cars couldbe affected by this event" ? Carefully explain.

d)Is it correct to say that:"The demand for Peugeot cars could beaffected by this event" ? Carefully explain.

e) Did changes in price of Aston Martin cars create shortage/surplus in market for the cars?Explain.

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