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Velcro Is Becoming More and More Popular for a Variety

Question 141

Multiple Choice

Velcro is becoming more and more popular for a variety of uses, including as fasteners for shoes. What should happen to the equilibrium price and quantity for shoelaces as a result?


A) Both price and quantity will increase.
B) Both price and quantity will decrease.
C) Price will increase and quantity decrease.
D) Price will decrease and quantity increase.
E) Nothing.

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