Question

question 34
tiffany, rolex, gucci, and prada represent exclusivity, meaning their prices are mostly inelastic.
true
false

question 35
individuals who purchase new products almost as soon as these products reach the market are called
late adopters
laggards
hesitant buyers
consumer innovators

Explanation:

Question 34

Luxury brands like Tiffany, Rolex, Gucci, and Prada have inelastic demand because their consumers are less responsive to price changes due to exclusivity, brand loyalty, and the perception of uniqueness. So the statement is true.

• Late adopters: Adopt new products later, not immediately.
• Laggards: Last to adopt, resistant to change.
• Hesitant buyers: Unsure, not quick to purchase new products.
• Consumer innovators: Purchase new products as soon as they reach the market, being early adopters of innovations.

Answer:

True

Question 35