Multiple Choice
If the electronics market is experiencing a shortage of mobile phones, then:
A) the current price is higher than the equilibrium price.
B) the equilibrium price is higher than the current price.
C) the quantity demanded is less than the quantity supplied.
D) the shortage could be eliminated by lowering the price.
E) the equilibrium price will adjust at a lower level in the short-run.
Correct Answer:
Verified
Correct Answer:
Verified
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