Solved

What Happens When There Is a Shortage in a Market

Question 170

Multiple Choice

What happens when there is a shortage in a market?


A) There is downward pressure on price.
B) There is upward pressure on price.
C) The market is operating above the equilibrium level.
D) The price must be above equilibrium.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q165: Figure 4-4 Figure 4-4 </p></div><svg width=

Q166: Suppose cupcakes are currently selling for $8

Q167: Why do markets move toward equilibrium of

Q168: Figure 4-4 Figure 4-4 </p></div><svg width=

Q169: Figure 4-5 Figure 4-5 </p></div><svg width=

Q171: Suppose you wish to analyze the change

Q172: Figure 4-5 Figure 4-5 </p></div><svg width=

Q173: If a shortage exists in a market,

Q174: What is step one in the three-step

Q175: What happens when there is a surplus

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents