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Figure 4-16 -Refer to Figure 4-16.If There Is Currently a Shortage of Currently

Question 361

Multiple Choice

Figure 4-16
Figure 4-16 -Refer to Figure 4-16.If there is currently a shortage of 20 units of the good,then the law of A) demand predicts that the price will rise by $2 to eliminate the shortage. B) supply predicts that the price will rise by $2 to eliminate the shortage. C) supply and demand predicts that the price will rise by $2 to eliminate the shortage. D) supply and demand predicts that the price will fall by $2 to eliminate the shortage.
-Refer to Figure 4-16.If there is currently a shortage of 20 units of the good,then the law of


A) demand predicts that the price will rise by $2 to eliminate the shortage.
B) supply predicts that the price will rise by $2 to eliminate the shortage.
C) supply and demand predicts that the price will rise by $2 to eliminate the shortage.
D) supply and demand predicts that the price will fall by $2 to eliminate the shortage.

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