According to this table, what will happen when the price of a pair of shoes rises from $100 to $125? a decrease in demand due to scarcity an increase in demand due to an increase in supply an increase in demand due to changing economic factors an increase in price due to an increase in demand

Question

Business

Bullock

30 June, 22:41

According to this table, what will happen when the price of a pair of shoes rises from $100 to $125? a decrease in demand due to scarcity an increase in demand due to an increase in supply an increase in demand due to changing economic factors an increase in price due to an increase in demand

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Answers (1)

Know the Answer?

Sasha Mann · Answer 1

To answer this problem, we would need to have the table.

Anyway, let us dissect the given choices one by one.

a decrease in demand due to scarcity

- scarcity is lack of supply, there is no relationship between price and scarcity

an increase in demand due to an increase in supply

-no relationship with price

an increase in demand due to changing economic factors

-what are the factors?

an increase in price due to an increase in demand

-when the demand is high, suppliers tend to increase the price to gain more profit, so I think this is the answer

Answer:

an increase in price due to an increase in demand