A shortage is the amount by which quantity
A)demanded exceeds quantity supplied.
B)supplied exceeds quantity demanded.
C)demanded increases when the price rises.
D)demanded exceeds the equilibrium quantity.
E)supplied exceeds the equilibrium quantity.

Question

Quizplus · Accepted Answer

A shortage occurs when the quantity demanded by consumers is greater than the quantity supplied by producers at the current market price. This implies that there is excess demand in the market for the product.

A Shortage Is the Amount by Which Quantity