When people heard that there was a shortage of specialty dolls, they wanted even more of them. Because of this effect the pressure on the price of these dolls increased. The price of the dolls remained the same however. Thus, the shortage of these dolls:
A) increased.
B) decreased.
C) did not change.
D) may have increased or decreased.

Question

Quizplus · Accepted Answer

The shortage increased because the demand for the dolls rose due to their perceived scarcity, but the price did not adjust to balance the supply and demand, leading to a greater shortage.

When People Heard That There Was a Shortage of Specialty