All else being equal,an increase in the price of Nike Air Jordan XXXI Fly Low shoes will cause an ________.

Question

All else being equal,an increase in the price of Nike Air Jordan XXXI Fly Low shoes will cause an ________.

Quizplus · Accepted Answer

An increase in the price of a product typically leads to an increase in the quantity supplied, as suppliers are more willing to produce and sell more at higher prices. This is a movement along the supply curve, not a shift of the supply curve itself, which distinguishes an increase in quantity supplied from an increase in supply.

All Else Being Equal,an Increase in the Price of Nike