8. toe shoes (running shoes that separate the toes like a glove) currently fill a very small niche. suppose…

8. toe shoes (running shoes that separate the toes like a glove) currently fill a very small niche. suppose these become more popular because of celebrity endorsements. the toe - shoe market responds by the ______ curve shifting right, creating a ______ at the current price. this creates incentive to drive the price ______ to its new equilibrium.\na. supply; shortage; higher.\nb. supply; shortage; lower.\nc. demand; surplus; higher.\nd. demand; surplus; lower.\ne. supply; surplus; lower.\nf. demand; shortage; higher.

8. toe shoes (running shoes that separate the toes like a glove) currently fill a very small niche. suppose these become more popular because of celebrity endorsements. the toe - shoe market responds by the ______ curve shifting right, creating a ______ at the current price. this creates incentive to drive the price ______ to its new equilibrium.\na. supply; shortage; higher.\nb. supply; shortage; lower.\nc. demand; surplus; higher.\nd. demand; surplus; lower.\ne. supply; surplus; lower.\nf. demand; shortage; higher.

Answer

Brief Explanations:

Celebrity endorsements increase consumer desire for toe - shoes, shifting the demand curve right. At the initial price, quantity demanded exceeds quantity supplied, creating a shortage. To reach a new equilibrium, the price must rise as suppliers respond to the increased demand and consumers adjust their quantity demanded.

Answer:

F. demand; shortage; higher