A shortage occurs whenever a. quantity demanded exceeds quantity ...

[Garrulous]

A shortage occurs whenever
 a. quantity demanded exceeds quantity supplied at the equilibrium price
  b. price is less than equilibrium price
  c. quantity demanded is less than quantity supplied
  d. goods are scarce
  e. some of the people who need the product are not willing and able to buy it at the equilibrium price

Question 2

A shortage of textbooks will cause
 a. a decrease in the supply of textbooks
  b. a decrease in the demand for textbooks
  c. both an increase in the supply of textbooks and a decrease in the demand for textbooks
  d. an increase in the price of textbooks, caused by a shift of either the supply curve or the demand curve
  e. an increase in the price of textbooks

[nanny]

Answer to Question 1

B

Answer to Question 2

E

[Garrulous]

Wow, this really help

[yeungji]

Thanks for the timely response, appreciate it