Which combination of income elasticity of demand and price elasticity of demand is most likely to account for a firm being able to earn higher profits in specialised luxury product markets?
- Aincome elasticity of demand: high; price elasticity of demand: high
- Bincome elasticity of demand: high; price elasticity of demand: low
- Cincome elasticity of demand: low; price elasticity of demand: high
- Dincome elasticity of demand: low; price elasticity of demand: low