Multiple Choice
When quantity demanded exceeds quantity supplied, a _____ occurs, putting _____ pressure on the price.
A) shortage; upward
B) shortage; downward
C) surplus; upward
D) surplus; downward
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q239: A market demand curve<br>A) reflects a positive
Q240: Which event would increase the supply of
Q241: Willingness-to-pay is always equal to the price
Q242: (Figure: Interpreting Market Equilibrium) If the price
Q243: Discuss the law of supply and the
Q245: One reason that buyers purchase less of
Q246: People's willingness-to-pay for umbrellas is MOST likely
Q247: Which event will NOT cause the supply
Q248: In the free market, the main signal
Q249: Other factors held constant, as the price