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In 2012 Nike Reduced the Price of Its Running Shoes

Question 221

Multiple Choice

In 2012 Nike reduced the price of its running shoes by 20 percent. As a result, the substitution effect caused


A) the demand for Nike shoes to increase.
B) people to switch from Adidas shoes and buy more Nikes.
C) the relative price of Nikes to increase.
D) the demand curve for Nikes to shift rightward.

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