In Response to a Shortage, the Market Price of a Good

question 38

True/False

In response to a shortage, the market price of a good will rise; as the price rises, demand will decrease and supply will increase until equilibrium is reached.

---

Definitions:

Dichloropentane

A type of organic compound that consists of a pentane chain with two chlorine atoms attached, which can exist in multiple isomeric forms.

Alkyl Chloride

A type of organic compound where one or more hydrogens in an alkyl group is replaced by chlorine; often used in organic synthesis and as solvents or intermediates.

Carbon-Chlorine Bond

A covalent bond between a carbon atom and a chlorine atom, often found in organic chlorine compounds.

Polar

Describes molecules or bonds with an uneven distribution of charge due to differences in electronegativity, leading to partial positive and negative ends.