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When There Is a Shortage in a Market,prices Are Likely

Question 80

Multiple Choice

When there is a shortage in a market,prices are likely to:


A) Fall because buyers do not wish to buy as much as sellers want to sell.
B) Rise because some buyers will offer to pay a higher price.
C) Fall because sellers are likely to reduce their production if prices rise.
D) Rise because the government will put a price ceiling in place.

Correct Answer:

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