Who would have suspected that a reduction in the demand for horse meat would make men pay more for fine shoes? This article from the WSJ reports that the price of shoes made from cordovan leather has increased and describes some of the reasons why. It is a great example of supply and demand in action.
The article describes two events that are affecting the market for cordovan shoes. First, a reduction the supply of cordovan leather. Second, an increase in demand for haute-crafted men's shoes. Do the events have the same impact on the price of cordovan shoes? The quantity?
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