Business, 11.11.2020 21:10, danny1687

Question 3 of 10 A shoe factory sells a certain brand of shoes for $50 per pair. After a celebrity is seen wearing the shoes at an awards show, demand for the shoes goes up rapidly. As a result, the factory is able to increase the price to $300 per pair According to the law of supply, what would you expect to happen next? A. The substitution effect for the shoes would quickly decrease. 다 B. The quantity of shoes supplied would greatly increase. C. The total demand for the shoes would quickly increase. D. The equilibrium price of the shoes would quickly decrease.

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Question 3 of 10 A shoe factory sells a certain brand of shoes for $50 per pair. After a celebrity i...