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?