Which of the following correctly describes how price adjustments eliminate a shortage?
A) As the price rises, the quantity demanded will decrease while the quantity supplied will increase.
B) As the price falls, the quantity demanded will decrease while the quantity supplied will increase.
C) As the price rises, the quantity demanded will increase while the quantity supplied will decrease.
D) As the price falls, the quantity demanded will increase while the quantity supplied will increase.
Correct Answer:
Verified
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