When a Shortage Exists in a Market,sellers

question 121

Multiple Choice

When a shortage exists in a market,sellers

• A)raise price,which increases quantity demanded and decreases quantity supplied until the shortage is eliminated.
• B)raise price,which decreases quantity demanded and increases quantity supplied until the shortage is eliminated.
• C)lower price,which increases quantity demanded and decreases quantity supplied until the shortage is eliminated.
• D)lower price,which decreases quantity demanded and increases quantity supplied until the shortage is eliminated.