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Question 5 Use demand and supply analysis and draw demand and supply graphs for the following questions. What will happen to demand and/or supply in

Question 5

Use demand and supply analysis and draw demand and supply graphs for the following questions. What will happen to demand and/or supply in each of the following cases?

Nike is leading a campaign for new running shoes. This has garnered the attention of many sports enthusiasts. The price of Nike running shoes increased from R1000 to R1300. What will happen to the demand and/or supply of Nike running shoes?

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