At a Price of $2,000 Per Unit, the Demand for Rancho

Multiple Choice

At a price of $2,000 per unit, the demand for Rancho 60 mountain bikes from Cloyd's Inc. is 300 units, which is same as the number of bikes manufactured every year. If the marketing managers at Cloyd's Inc. decide to sell each bike at a price lower than $2,000 per unit, _____.

A) a shortage of bikes will be created
B) the number of bikes produced will increase drastically
C) an inelastic demand for the bikes will be created
D) the demand for and the supply of the bikes will attain equilibrium