What can we conclude if consumers areforced to wait in long line-ups in order topurchase products such as food and fuel?ABсDThat the price of these items is atequilibrium.That price is operating effectivelyas a rationing mechanism.That producers are producingmore than people want.Producers would be willing toproduce more if price wereallowed to rise.

An individual or entity that purchase goods and services for the personal use and consumption is…

Answered: What can we conclude if consumers are…

What can we conclude if consumers are forced to wait in long line-ups in order to purchase products such as food and fuel? TI C

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 45CTQ: Suppose both of these events took place at the same time. Combine your analyses of the impacts of...

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Question

What can we conclude if consumers are
forced to wait in long line-ups in order to
purchase products such as food and fuel?
A
B
с
D
That the price of these items is at
equilibrium.
That price is operating effectively
as a rationing mechanism.
That producers are producing
more than people want.
Producers would be willing to
produce more if price were
allowed to rise.

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