Which of the following correctly describes how price adjustments eliminate a shortage?
A) As the price rises, the quantity demanded increases while the quantity supplied decreases.
B) As the price rises, the quantity demanded decreases while the quantity supplied increases.
C) As the price falls, the quantity demanded decreases while the quantity supplied increases.
D) As the price falls, the quantity demanded increases while the quantity supplied decreases.
Correct Answer:
Verified
Q229: If the price of a video download
Q230: Q231: When the price is less than the Q232: If the price of a CD is Q233: When a market is in equilibrium, Q235: If the quantity of textbooks supplied is Q236: The wage rate paid by Walkman producers Q237: The interaction of supply and demand explains Q238: When the price is below the equilibrium Q239: Which of the following is the best![]()
A) the
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