Answer:
A. is more elastic than general diamond rings
Explanation:
Typically, luxury items are less elastic than necessities (when prices go up, people still buy necessities but are less likely to spend more on luxury goods). However, we are not comparing luxury vs. necessity. We are comparing a high-end name-brand ring like Tiffany's vs other diamond rings. Because Tiffany's is such a well know and sought after brand, people will likely be willing to pay a little more for it because of the brand recognition and prestige.
