question archive A shortage will occur whenever: a
A shortage will occur whenever: a
Subject:MarketingPrice:2.88 Bought3
A shortage will occur whenever:
a. price is set below the equilibrium price.
b. price is set above the equilibrium price.
c. price is set equal to the equilibrium price.
d. the supply curve is upward sloping.
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A shortage will occur whenever A- price is set below the equilibrium price
A shortage will occur when the price is set below the equilibrium price. When the price is set below the equilibrium price that implies there will be excess demand in the market and supply will fall short as compared to the demand which will lead to the shortage in the market because at the lower price there will be less quantity supplied.
