Multiple Choice
What occurs when quantity demanded of a good is less than the quantity supplied at the prevailing market price?
A) The price of the good tends to rise.
B) The price of the good tends to fall.
C) The demand curve shifts rightward until the surplus is eliminated.
D) The supply curve shifts leftward until the shortage is eliminated.
Correct Answer:

Verified
Correct Answer:
Verified
Q68: Which pair is comprised of unrelated goods?
Q69: As the price of milk increases, producers
Q70: Suppose you drink more tea because the
Q71: Suppose supply decreases along a given demand
Q72: Suppose demand increases and supply increases, but
Q74: Which of the following is most likely
Q75: Saccharin and aspartame are both low-calorie substitutes
Q76: Which of the following could cause an
Q77: Assume coffee is a substitute for tea.Suppose
Q78: Suppose the government imposes a ceiling price