When a Shortage Exists in a Market

question 53

Multiple Choice

When a shortage exists in a market,

• A) the actual price is lower than the equilibrium price.
• B) there is an excess quantity supplied.
• C) consumers increase the quantities they are willing and able to purchase.
• D) suppliers will quit producing until the shortage disappears.
• E) the actual price is greater than the equilibrium price.

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The allocation of a deceased person's assets in accordance with their will.