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1. Please illustrate how the prices for Nike shoes are determined according to economic theory? a....

1. Please illustrate how the prices for Nike shoes are determined according to economic theory?

a. Please illustrate the impact on the market when leather prices increase

b. Please illustrate the impact on the market when the price of Nike Shoes increase

c. Please illustrate the impact on the market when incomes of buyers decrease

d. Please illustrate the impact on the market when a hurricane destroys the factories of Nikes suppliers of its raw materials for shoes

e. Please illustrate the impact on the market when the price of New Balance Shoes (a known competitor to Nike) sets a price lower than that of Nike

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