Leather is commonly used by shoe manufacturers in producing their highest-priced shoes. Because leather is in short supply worldwide, its price has increased. What will be the effect of this price change?
- AThe demand curve for leather shoes will shift to the left.
- BThe demand curve for a substitute for leather shoes will shift to the right.
- CThe supply curve for leather shoes will shift to the right.
- DThe supply curve for a substitute for leather to make expensive shoes will shift to the right.