If a shortage exists in a market, the natural tendency is for:

Name: If a shortage exists in a market, the natural tendency is for:
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Question

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In a market shortage, demand for the product or service is higher than the supply available. This leads to an increase in the price of the product or service as consumers compete to purchase the limited supply. As the price increases, suppliers may try to increase their production, but this may take time, leading to a temporary decrease in the quantity supplied.

If a Shortage Exists in a Market, the Natural Tendency