Figure 4-16 -Refer to Figure 4-16.If There Is Currently a Shortage of Currently

question 62

Multiple Choice

Figure 4-16

-Refer to Figure 4-16.If there is currently a shortage of 20 units of the good,then the law of

• A) demand predicts that the price will rise by $2 to eliminate the shortage.
• B) supply predicts that the price will rise by $2 to eliminate the shortage.
• C) supply and demand predicts that the price will rise by $2 to eliminate the shortage.
• D) supply and demand predicts that the price will fall by $2 to eliminate the shortage.

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Definitions:

Explore Emerging

The process of investigating and understanding new trends, technologies, or ideas that are in the early stages of development or adoption.

Exploit Current

Leveraging existing resources, conditions, or opportunities to gain an advantage or achieve a goal.

Dell Computer

An American multinational computer technology company known for its direct-sales model and custom-built personal computers, servers, and related products.

Nike

A global corporation known for designing, manufacturing, and marketing footwear, apparel, equipment, and accessories, especially for sports.