If producers incorrectly set the price of their product too low:

Name: If producers incorrectly set the price of their product too low:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When producers incorrectly set the price of their product too low, there will be an increase in demand for their product as it becomes more affordable for consumers. However, since the price is too low, producers will not be able to supply enough product to meet the high demand, resulting in a shortage.

If Producers Incorrectly Set the Price of Their Product Too