When a market is in shortage,O,there is excess demand in the marketO there is a downward pressure on priceO all consumers are happy because the price is lowerthan the equilibriumO the government has to intervene because the marketcan never rebalance itself

Market shortage is a situation in which quantity demanded in the market is more than quantity…

Answered: When a market is in shortage,

Business

Economics

When a market is in shortage,

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter7: Market Efficiency And Welfare

Section: Chapter Questions

Problem 8P

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