If There Is a Shortage in a Free Market, Then

question 328

Multiple Choice

If there is a shortage in a free market, then

• A) consumers will offer to pay a lower price for the good, and the price will fall toward the equilibrium level.
• B) consumers will offer to pay a higher price for the good, and the price will rise toward the equilibrium level.
• C) suppliers will decrease their output to match demand.
• D) suppliers will accept any price below equilibrium.

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Definitions:

Mental Disorders

Health conditions characterized by alterations in thinking, mood, or behavior associated with distress or impaired functioning.

Feminist Critique

Feminist critique involves analyzing literature, media, and societal norms through a feminist lens, focusing on how these areas perpetuate gender inequalities and seeking ways to challenge and change them.

Medical Science

The branch of science focused on the study, diagnosis, treatment, and prevention of diseases and the promotion of human health.

Property Interest

A legal right or claim to property, including ownership, use, or investment stakes.