Teenagers frequently purchase similar shoes from one of two major competing shoe manufacturers. If the price of one manufacturer's shoes increases dramatically, teenagers are likely to purchase _____.(1 point)

Question

Responses

fewer shoes from the competing manufacturer at any given price, as the two brands are complements
fewer shoes from the competing manufacturer at any given price, as the two brands are complements

more shoes from the competing manufacturer at any given price, as the two brands are substitutes
more shoes from the competing manufacturer at any given price, as the two brands are substitutes

more shoes from the competing manufacturer at any given price, as the two brands are complements
more shoes from the competing manufacturer at any given price, as the two brands are complements

fewer shoes from the competing manufacturer at any given price, as the two brands are substitutes

Answer 1

fewer shoes from the competing manufacturer at any given price, as the two brands are substitutes

Answer 2

The law of supply states that as price increases, ceteris paribus, _____.(1 point)
Responses

quantity supplied decreases
quantity supplied decreases

quantity supplied increases
quantity supplied increases

supply increases
supply increases

supply decreases

Answer 3

quantity supplied increases