Suppose a Shortage for Good a Exists

question 445

Multiple Choice

Suppose a shortage for good A exists. Given this information, we know that

• A) the price of good A will tend to rise toward the equilibrium level.
• B) the price of good A will tend to fall toward the equilibrium level.
• C) a government price floor should be imposed above the current price so that the market can work more effectively.
• D) a government price ceiling should be imposed above the current price so that the market can work more effectively.

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