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Author Question: The price of a good will rise when: a. there is a shortage of the good. b. there is a surplus of ... (Read 48 times)

Evvie72

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on: Jun 30, 2018
The price of a good will rise when:
 a. there is a shortage of the good. b. there is a surplus of the good.
  c. demand for the good decreases. d. the supply of the good increases.

Question 2

When there is a shortage of a product in a market the:
 a. price will fall.
  b. price must be below the equilibrium price.
  c. price must be above the equilibrium price.
  d. producers will reduce output and sales will fall.


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Liamb2179

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

a

Answer to Question 2

b


Evvie72

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

jamesnevil303

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Reply 3 on: Yesterday
:D TYSM

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