Dom Lucia Makes Decorated Lamp Shades, Which He Has Tried

Dom Lucia makes decorated lamp shades, which he has tried to sell in a variety of locations. He was initially concerned that the lamp shades should not be priced too high because he wanted to have as many people as possible have the ability to buy and enjoy one of his creative lamp shades. When he decided to increase his price by 60 percent so he could pay his own living expenses, demand for his lamp shades increased drastically. Inadvertently, Lucia learned that his lamp shades had:

A) inverse demand
B) demand inference
C) a high demand contribution
D) an S-shaped demand curve
E) a normally-distributed demand

Correct Answer:

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