Referring to the Economics in Practice on page 320: A successful celebrity endorsement of a product will likely shift the demand curve for the product to the ________, resulting in ________ in the equilibrium price of the item.

Question

Quizplus · Accepted Answer

A successful celebrity endorsement typically increases the desirability of a product, leading to higher demand. As demand increases (shifts to the right), the equilibrium price of the product also increases due to higher demand outpacing supply.

Referring to the Economics in Practice on Page 320: a Successful