If the Electronics Market Is Experiencing a Shortage in the Supply

question 135

Multiple Choice

If the electronics market is experiencing a shortage in the supply of mobile phones being sold at a cost that buyers are more than willing to pay for, then:

• A)​the selling price is higher than the equilibrium price.
• B)​the equilibrium price is higher than the selling price.
• C)​the quantity demanded is less than the quantity supplied.
• D)​the shortage could be eliminated by lowering the price.

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