Business, 07.03.2020 05:59 lilyrockstarmag
"As fewer people buy gym memberships, the demand for running shoes will decrease and the price of a pair of running shoes will increase. The rise in the price of a pair of running shoes will increase the supply of running shoes."
This statement is because .
a. true; the increase in the price of a pair of running shoes increases the supply of running shoes to eliminate the shortage.
b. false; a decrease in demand for running shoes does not increase the price of a pair of running shoes and an increase in the price of a pair of running shoes does not increase the supply of running shoes.
c. true, when the demand for running shoe increases, the supply for running shoes increases too so that no surplus occurs
d. true; when the demand for running shoe increases, the supply of running shoes increases so that the price of a pair of running shoes does not increase
e. false; the decrease in the demand for running shoes creates a surplus and to eliminate the surplus, supply increases
Answers: 1
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