Multiple Choice
Which of the following is evidence of a shortage of macadamias?
A) Firms lower the price of macadamias.
B) The price of cashews is lowered in order to make up for the macadamia shortage.
C) The equilibrium price of macadamias falls due to a decrease in demand.
D) The quantity demanded of macadamias is greater than the quantity supplied.
Correct Answer:
Verified
Correct Answer:
Verified
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