During the last decade, the price of shoes rose substantially yet people bought more pairs of new shoes each year. This experience suggests that the

Question

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The increase in the quantity of shoes bought despite higher prices suggests that the demand for shoes increased, which is represented by a rightward shift of the demand curve. This indicates a greater desire or need for shoes among consumers, which could be due to various factors such as increased fashion consciousness, higher disposable incomes, or changes in social norms.

During the Last Decade, the Price of Shoes Rose Substantially