The rationing function of price
A) occurs when there is a movement of resources into or out of markets as a result of changes in the equilibrium market price.
B) is also known as the guiding function of price.
C) occurs when consumers change their tastes and preferences.
D) occurs only when the market experiences severe shortages.
Correct Answer:
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Q1: Which of the following will not cause
Q2: A good that is similar to another,and
Q4: Which of the following will result in
Q5: How long is the "short-run" time period
Q6: A movement along a demand curve may
Q7: Which of the following refers to a
Q8: The guiding function of price is
A)the movement
Q9: In the long run if there is
Q10: Which of the following best describes the
Q11: Coke and Pepsi are substitutes if
A)the demand
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