When a Shortage of a Good Is Present Due to a Price

question 187

Multiple Choice

When a shortage of a good is present due to a price ceiling,

• A) the amount supplied will be greater than the amount demanded.
• B) the quality of the good will generally improve.
• C) non-price factors, such as discrimination or waiting in line, will play a greater role in the allocation of the good.
• D) the demand for the product will increase and, thereby, eliminate the shortage.

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Definitions:

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Phenomena observed in research where the characteristics of a particular group of individuals, defined by a shared temporal experience or common life event, influence the outcome of a study.

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