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Economics

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How does a persons perception of a good as a neccessity or a luxury effect his or her purchase of it?

A. people who have alot of money will buy goods even if they think they are a luxury.
B. a good that is perceived as expencive will no longer be considered a neccessity.
C. a good that is perceived as a neccisity will be purchased even if the price rises.

I say C am I right?

  • Economics - ,

    agree that it is C

  • Economics - ,

    Thank you very much!!

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