A Shortage Exists

question 163

Multiple Choice

A shortage exists

• A) in equilibrium.
• B) when quantity supplied is greater than quantity demanded.
• C) when quantity supplied is less than quantity demanded.
• D) at the market clearing price.

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Definitions:

Principal

In finance, the original amount of money invested or loaned, before interest.

Agent

An individual or entity authorized to act on behalf of another person or entity, known as the principal, in various transactions or negotiations.

Fiduciaries

Individuals or organizations entrusted to manage assets or decisions for another party, often with a legal obligation to act in the latter's best interest.

Principals

The main parties involved in a transaction or contract, including those who have the authority to make decisions and agreements.