1. If there is a shortage in the market, which of the following correctly explains the situation and solution? (3 marks)

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

1. If there is a shortage in the market, which of the following correctly explains the situation and solution? (3 marks)

Post by answerhappygod »

1 If There Is A Shortage In The Market Which Of The Following Correctly Explains The Situation And Solution 3 Marks 1
1 If There Is A Shortage In The Market Which Of The Following Correctly Explains The Situation And Solution 3 Marks 1 (71.93 KiB) Viewed 67 times
1. If there is a shortage in the market, which of the following correctly explains the situation and solution? (3 marks) (a) The price is above the equilibrium, leading to demand exceeding supply, so the price must fall. (b) The price is below the equilibrlum, leading to demand exceeding supply, so the price must fall (c) The price is above the equilibrium, leading to demand exceeding supply, so the price must rise. (d) The price is below the equilibrium, leading to demand exceeding supply, so the price must rise.
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”