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Author Question: A shortage of product means a(n): a. excess supply of the product. b. excess demand of the ... (Read 173 times)

Charlie

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on: Jun 30, 2018
A shortage of product means a(n):
 a. excess supply of the product.
  b. excess demand of the product.
  c. situation where the quantity demanded is less than the quantity supplied.
  d. situation where the quantity supplied exceeds the quantity demanded.
  e. situation where the current market price is too high.

Question 2

Tickets to the Indiana-Purdue basketball game are usually sold out in advance of game day. This suggests:
 a. the price of the tickets must be very high or else people would not consider them valuable.
  b. the price is set below the equilibrium level.
  c. the Indiana basketball stadium is relatively small.
  d. everyone who attends the game will enjoy it.


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at

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

b


Charlie

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

matt95

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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