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Figure 4-9 -Refer to Figure 4-9.If There Is Currently a Shortage of a Shortage

Question 397

Multiple Choice

Figure 4-9 Figure 4-9 -Refer to Figure 4-9.If there is currently a shortage of 20 units of the good,then A) the law of demand predicts that the price will rise by $2 to eliminate the shortage. B) the law of supply predicts that the price will rise by $2 to eliminate the shortage. C) the law of supply and demand predicts that the price will rise by $2 to eliminate the shortage. D) the law of supply and demand predicts that the price will fall by $2 to eliminate the shortage.
-Refer to Figure 4-9.If there is currently a shortage of 20 units of the good,then


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

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