Suppose that over time consumers become more focused on stylistic differences among shoe brands.

Which of the following is likely to happen as a result? Check all that apply.

- Sleek's demand curve is inelastic at the profit-maximizing price.
- The demand for each firm's products will become more price inelastic.
- This will allow Sleek to charge a higher price.

The demand for each firm's products will become more price inelastic: As consumers focus more on stylistic differences, they become more price-sensitive, leading to a higher likelihood of staying loyal to a specific brand despite price changes.

This will allow Sleek to charge a higher price: With consumers valuing stylistic differences more, Sleek can capitalize on this by potentially charging a premium for their unique designs.

Sleek's demand curve is inelastic at the profit-maximizing price: If Sleek's products are perceived as unique and essential by consumers, this can lead to an inelastic demand curve, allowing Sleek to maintain higher prices.

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