In 2007 Nike Reduced the Price of Its Running Shoes

question 308

Multiple Choice

In 2007 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.

---

Definitions:

Civil Law

A legal system based on written codes and statutes, as opposed to common law, which is based on precedent decisions.

Dark Web

A very well-concealed part of the Deep Web where many illegal and illicit activities take place.

Tor Browser

A web browser designed for anonymous web surfing and protection against traffic analysis and network surveillance.

Dark Web

Part of the internet that is intentionally hidden from standard search engines and browsers, often associated with illegal activities.