Multiple Choice
After adjusting for inflation, a comparison of the price of legwarmers reveals that the price of leg warmers was significantlyhigher in the 1980s than it is today. Which of the following canexplain this?
A) Jeans become preferable to leg warmers, decreasing the demand for leg warmers.
B) Leg warmers were fashionable in the 1980s (fact) , and hence the high demand drove prices up in the 1980s.
C) An increase in the price of cotton used to make leg warmers has led to a decrease in the price of leg warmers
Today.
D) The expected increase in the price of leg warmers has led to a decrease in the price of leg warmers today.
Correct Answer:
Verified
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