French luxury goods manufacturer and retailer Hermès is known for making expensive leather goods. But paying $300,168 for a handbag at auction, which is over the standard retail price of $280,000, is extraordinary, and not for the casual shopper. The handbag is considered a(n)

A. product in demand.
B. custom product.
C. prestige product.
D. elastic product.
E. inelastic product.


Answer: C

Business

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