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-If There Is a Shortage

Question 440

Multiple Choice

-If there is a shortage A) fewer producers want to sell the product because it is too scarce. B) consumers will drive up the price further. C) firms will drive up the price to enhance profits. D) the price will decline to the equilibrium level.
-If there is a shortage


A) fewer producers want to sell the product because it is too scarce.
B) consumers will drive up the price further.
C) firms will drive up the price to enhance profits.
D) the price will decline to the equilibrium level.

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