The price of a good will rise when: a. there is a shortage of ...

[Evvie72]

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.

[Liamb2179]

Answer to Question 1

a

Answer to Question 2

b

[Evvie72]

Thanks for the timely response, appreciate it

[olderstudent]

Excellent