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.

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Definitions:

Central Nervous System

The part of the nervous system consisting of the brain and spinal cord, responsible for integrating sensory information and responding accordingly.

Autonomic Nervous System

A part of the peripheral nervous system that controls involuntary bodily functions like heartbeat and digestion.

Spinal Cord

A long, thin, tubular structure made up of nervous tissue, which extends from the brainstem down the back, and is encased in the spinal column. It is a crucial part of the central nervous system.

Somatic Nervous System

A part of the peripheral nervous system that handles voluntary control of the body's muscles and the transmission of sensory information to the central nervous system.