In the world of fashion, the power to imitate a trendy look is the power to make
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In the world of fashion, the power to imitate a trendy look is the power to make money. Stores such as H&M and Forever 21 focus on imitating fashions wherever possible: As soon as they see that a new look is coming along, something people are willing to pay a high price for, they start cranking out that look. Do these imitation-centered stores make the supply of clothing more elastic or less elastic? How can you tell?
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The imitation centered stores make the supply of clothing mo...View the full answer
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Related Book For
Modern Principles Of Microeconomics
ISBN: 9781429278416
3rd Edition
Authors: Tyler Cowen, , Alex Tabarrok
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