An increase in the supply of running shoes will—

assuming demand is unchanged—lead to

. (LO7)

a) an increase in equilibrium price and an increase in equilibrium quantity

b) a decrease in equilibrium price and a decrease in equilibrium quantity

c) an increase in equilibrium price and a decrease in equilibrium quantity

d) a decrease in equilibrium price and an increase in equilibrium quantity For questions 31–34, use choices

a, b,

c, d, e, and

f. (LO8)

a) may rise, fall or remain the same

b) may rise or remain the same

c) may fall or remain the same

d) will rise

e) will fall

f) will remain the same