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.

Question

FlowerFlamingo FlowerFlamingo

15-02-2021
Social Studies

contestada

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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777Dhunter 777Dhunter · Answer 1 · 2021-02-15T17:16:15+01:00

777Dhunter 777Dhunter

15-02-2021

Answer:

B

Explanation:

The factory would most likely take advantage of this situation, and try to sell more of the shoes at a higher price, for the greater profit.

A,B and D do not make sense as the factory would then either be making less money or not profiting at all.

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ishathanwar88 ishathanwar88 · Answer 2 · 2022-07-27T13:42:07+02:00

The correct option is B. The number of shoes supplied would greatly increase.

What is a shoe?

A shoe exists as an object of footwear intended to rescue and comfort the human foot. Shoes exist also utilized as an item of decoration and fashion. The design of shoes has changed enormously via time and from culture to culture, with form originally being tied to operation. Though the human foot can adapt to various terrains and weather conditions, it exists still vulnerable to environmental hazards such as sharp rocks and temperature extremes, which shoes defend against. Some shoes exist worn as security equipment, such as steel-toe boots which exist needed footwear at industrial worksites.

Additionally, fashion has often dictated many structure elements, such as whether shoes include very high heels or flat ones. Contemporary footwear contrasts widely in style, complexity, and cost. Elemental sandals may consist of only a thin sole and uncomplicated strap and be sold for a low cost.

Hence, The correct option is B. The number of shoes supplied would greatly increase.

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