Assume There Is a Shortage in the Market for Digital

question 184

Multiple Choice

Assume there is a shortage in the market for digital music players.Which of the following statements correctly describes this situation?

• A)The demand for digital music players is greater than the supply of digital music players.
• B)Some consumers will be unable to obtain digital music players at the market price and will have an incentive to offer to buy the product at a higher price.
• C)The price of digital music players will rise in response to the shortage; as the price rises the quantity demanded will increase and the quantity supplied will decrease.
• D)The shortage will cause a decrease in the equilibrium price of digital music players.

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Definitions:

Renin-Angiotensin

The renin-angiotensin system is a hormone system that regulates blood pressure and fluid balance in the body.

ADH Secretion

ADH secretion involves the release of antidiuretic hormone, also known as vasopressin, from the pituitary gland which helps regulate water balance in the body.

Carotid Sinuses

Dilated areas at the base of the internal carotid artery and the bifurcation of the common carotid artery which contain baroreceptors that help regulate blood pressure.

Blood Pressure

The force exerted by circulating blood against the walls of the body's arteries.