Multiple Choice
If the electronics market is experiencing a shortage in the supply of mobile phones being sold at a cost that buyers are more than willing to pay for, then:
A) the selling price is higher than the equilibrium price.
B) the equilibrium price is higher than the selling price.
C) the quantity demanded is less than the quantity supplied.
D) the shortage could be eliminated by lowering the price.
Correct Answer:
Verified
Correct Answer:
Verified
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