Luxury brands like designer sunglasses are goods that may exhibit snob

Luxury brands like designer sunglasses are goods that may exhibit snob effects. Suppose this is true, and the price for a particular brand increases. What happens to the component changes in the quantity demanded?

A) Pure price effect and snob effect are negative
B) Pure price effect and snob effect are positive
C) Pure price effect is positive, snob effect is negative
D) Pure price effect is negative, snob effect is positive

ANSWER

D