A market shortage is
A)The amount by which the quantity demanded exceeds the quantity supplied at a given price.
B)The result of a price floor.
C)A situation in which producers cannot sell all the goods and services that they are willing and otherwise able to sell.
D)The amount by which the cost of production exceeds the price of a good.

Question

Quizplus · Accepted Answer

A market shortage occurs when the quantity demanded by consumers exceeds the quantity supplied by producers at a given price, resulting in some consumers being unable to purchase the good or service they desire. This can lead to an increase in price in order to restore equilibrium in the market.

A Market Shortage Is