A shortage occurs when:
A)demand is greater than supply.
B)the equilibrium price is too high.
C)quantity demanded exceeds quantity supplied.
D)quantity supplied exceeds quantity demanded.

Question

Quizplus · Accepted Answer

A shortage occurs when the quantity demanded exceeds the quantity supplied. This means that there are more buyers who want to purchase a product than there are sellers who are willing and able to provide it, resulting in a shortage of the product.

A Shortage Occurs When