question archive There will be a shortage of a product when A
There will be a shortage of a product when A
Subject:MarketingPrice:2.88 Bought3
There will be a shortage of a product when
A. price is above the equilibrium level.
B. the supply curve is downward sloping and the demand curve is upward sloping.
C. the demand and supply curves fail to intersect.
D. consumers are willing to buy more than producers offer for sale.
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D. consumers are willing to buy more than producers offer for sale.
It is because a shortage of any product is the condition when the market does not have sufficient quantity to fulfill the desire of those who are demanding that product. This situation arises when producers offer less to sale while consumers demand more.
