Suppose a Shortage for Good X Exists

Multiple Choice

Suppose a shortage for good X exists. Given this information, we know that

A) the price of good X will tend to rise toward the equilibrium level.
B) the price of good X will tend to fall toward the equilibrium level.
C) a government price floor should be imposed above the current price so that the market can work more effectively.
D) a government price ceiling should be imposed above the current price so that the market can work more effectively.