A Shortage Will Exist If

question 8

Multiple Choice

A shortage will exist if

• A)the price is above the equilibrium price.
• B)the price is below the equilibrium price.
• C)there are not enough producers.
• D)there are not enough consumers.
• E)demand decreases.

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Definitions:

Photoreceptor

A light-sensitive cell located on the retina that converts light energy into neural impulses.

Iris

the colored ring around the pupil of the eye, responsible for controlling the size of the pupil and thus the amount of light that enters the eye.

Light Entering Eye

The process by which visual information begins its journey to perception, involving photons passing through the eye's structures to reach and stimulate the retina.

Retina

The retina is a thin layer of tissue located on the inside back wall of the eye, which contains cells that are sensitive to light and trigger nerve impulses that pass via the optic nerve to the brain, where a visual image is formed.