If a manufacturer raises the price of a luxury item, then initially the demand for that product will:
A)increase.
B)decrease.
C)shift to the left.
D)become more inelastic.
E)become more elastic.

Question

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The Answer of If a manufacturer raises the price of a luxury item, then initially the demand for that product will:
A)increase.
B)decrease.
C)shift to the left.
D)become more inelastic.
E)become more elastic.

If a Manufacturer Raises the Price of a Luxury Item