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Social Studies, 15.02.2021 19:10 ImHotRacerYT

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? O A. The equilibrium price of the shoes would quickly decrease. B. The quantity of shoes supplied would greatly increase О C. The total demand for the shoes would quickly increase. D. The substitution effect for the shoes would quickly decrease.​

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