Between 2003 and 2005, there was huge growth in the market for premium blue jeans priced at $200 or more per pair. Popular magazines showing celebrities wearing certain brands largely fueled the growth. Then, in the summer of 2005, major department stores started cutting prices on the jeans; they were also found on websites that offer jeans at discount prices. Use the economic concepts that you learned to describe what is happening in this market.
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