________When there is a shortage of citrus fruit, the economic forces of supply and demand would suggest that a. price will stay constant. b. price will decrease. c. price will increase. d. price, all things remaining equal, will increase. e. it will take a long time before the shortage is felt in the market.

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter8: Understanding Markets And Industry Changes
Section: Chapter Questions
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________When there is a shortage of citrus fruit, the
economic forces of supply and demand would
suggest that
a. price will stay constant.
b. price will decrease.
c. price will increase.
d. price, all things remaining equal, will increase.
e. it will take a long time before the shortage is
felt in the market.

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