Which factor probably caused the change shown in the graphs?

Question

anonymous · Answer

How does a person’s perception of a good as a necessity or a luxury affect his or her purchase of it?



 
A. A good that is perceived as a necessity will be purchased even if the price rises. 
 
 
B. People who have a lot of money will buy goods even if they think they are a luxury. 
 
 
C. If a good is perceived as a luxury, demand becomes inelastic. 
 
 
D. A good that is perceived as expensive will no longer be considered a necessity.