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Author Question: If there is a shortage in the market for automobiles, then a. producers' inventories will rise b. ... (Read 29 times)

FButt

  • Hero Member
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  • Posts: 519
on: Jul 1, 2018
If there is a shortage in the market for automobiles, then
 a. producers' inventories will rise
  b. the price should begin to rise
  c. the demand curve will shift to restore equilibrium in the market
  d. the supply curve will shift to restore equilibrium in the market
  e. the price is expected to fall

Question 2

If there is a shortage in the market for athletic shoes,
 a. the price should rise to eliminate the shortage
  b. inventories of athletic shoes will grow
  c. demand will decrease to restore equilibrium
  d. firms will reduce production to restore equilibrium
  e. supply will increase to restore equilibrium


Mollythedog

  • Sr. Member
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  • Posts: 340
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

A


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