1. If consumers are aware that unsuccessful lines of clothing will fall in price as the season...
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1. If consumers are aware that unsuccessful lines of clothing will fall in price as the season progresses, why do they buy when prices are set high at the start of the season? What does this tell us about the shape of the demand curve for a given fashion product (i) at the start and (ii) at the end of the season?
2. How might we account for the changing magnitudes of the fashion price cycles of clothing and cars? What role do fixed costs play in the explanation?
3. Despite new technology in the car industry, changing the design and shape of cars has risen as a share of the total production costs. How is this likely to have affected the fashion cycle in the car industry?
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1 Because they want to be fashionable now It is in the nature of being fashionable that the c...View the full answer
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