-If There Is a Shortage

question 440

Multiple Choice

-If there is a shortage

• A) fewer producers want to sell the product because it is too scarce.
• B) consumers will drive up the price further.
• C) firms will drive up the price to enhance profits.
• D) the price will decline to the equilibrium level.

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Definitions:

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is a stage in Jean Piaget's theory of cognitive development, where children aged 7 to 11 years begin to think logically about concrete events.

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