Holding all other factors constant, when the price of running shoes rises, the:
A) demand curve for running shoes will shift to the right.
B) demand curve for running shoes will shift to the left.
C) quantity of running shoes demanded will increase.
D) quantity of running shoes demanded will decrease.

Question

Quizplus · Accepted Answer

When the price of running shoes rises, holding all other factors constant, the quantity of running shoes demanded will decrease. This is because of the law of demand, which states that, ceteris paribus, as the price of a good increases, the quantity demanded of that good decreases.

Holding All Other Factors Constant, When the Price of Running