During the last decade, the price of shoes rose substantially yet people bought more pairs of new shoes each year. This experience suggests that the

Question

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The fact that people bought more pairs of new shoes despite the price increase suggests that there was an increase in demand for shoes, leading to a rightward shift in the demand curve for shoes. This is supported by the law of demand, which states that as the price of a good increases, consumers will demand less of it, but in the case of shoes, the opposite happened.

During the Last Decade, the Price of Shoes Rose Substantially