In an efficient market, a scarce good generally has a ____ than a less-scarce good.
A)higher price
B)higher total utility to consumers
C)more even distribution across income classes
D)lower price in off-peak periods

Question

Quizplus · Accepted Answer

Scarce goods are in high demand and low supply, so the price is likely to be higher due to competition among buyers. This is the basic principle of supply and demand in an efficient market.

In an Efficient Market, a Scarce Good Generally Has a ____