Multiple Choice
-Which of the following statements is correct?
A) A shortage and scarcity are the same thing.
B) A shortage occurs when the quantity demanded is less than the quantity supplied at a price below the market clearing price.
C) A shortage occurs when the quantity demanded is greater than the quantity supplied at a price below the market clearing price.
D) A shortage occurs when the quantity demanded is less than the quantity supplied at a price above the market clearing price.
Correct Answer:
Verified
Correct Answer:
Verified
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