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3. A shortage will develop when A. the quantity supplied of a good is greater than the quantity demanded of that good. B. the equilibrium quantity supplied is lower than the actual quantity supplied. C. the government provides subsidies to producers. D. the market price is below the equilibrium price.
g
A shortage will develop when the market price is below the equilibrium price.
Question
Asked 11/6/2013 1:25:55 PM
Updated 10/3/2017 7:44:59 AM
2 Answers/Comments
Flagged by jeifunk [9/27/2017 4:35:38 AM], Unflagged by jeifunk [10/3/2017 2:38:34 AM], Edited by jeifunk [10/3/2017 2:38:37 AM]
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8
A shortage will develop when the market price is below the equilibrium price.
Added 10/3/2017 7:44:59 AM
This answer has been confirmed as correct and helpful.
5
A shortage will develop when: the quantity supplied of a good is greater than the quantity demanded of that good.
Added 10/3/2017 7:34:26 AM
This answer has been flagged as incorrect.
Flagged by Masamune [10/3/2017 7:45:02 AM]
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A luxury good is an example of a good that might not be bought if prices rise. A. true B. false
Weegy: A luxury good is an example of a good that might not be bought if prices rise. TRUE. (More)
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Updated 10/14/2018 10:04:01 AM
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8. Pencils would be likely to be bought in the same quantity even if it doubled in price. A. true B. false
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Expert Answered
Asked 11/1/2013 5:23:14 PM
0 Answers/Comments
13. What determines the price and the quantity produced of most goods? A. the consumer’s perception of necessity B. the interaction of supply and demand C. the availability of substitutes for the goods D. the quality of the goods that are produced
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Not Answered
Updated 1/6/2015 11:12:51 AM
1 Answer/Comment
The interaction of supply and demand determines the price and the quantity produced of most goods.


Added 1/6/2015 11:12:51 AM
This answer has been confirmed as correct and helpful.
Confirmed by sujaysen [1/6/2015 11:29:57 AM]
16. What factor has the greatest influence on elasticity and inelasticity of supply? A. profit B. time C. labor D. financing
Question
Updated 3/10/2015 12:22:38 PM
1 Answer/Comment
TIME has the greatest influence on elasticity and inelasticity of supply.

Added 3/10/2015 12:22:38 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [3/10/2015 12:37:56 PM]
21. What does it mean when the demand for a product is inelastic? A. People will not buy any of the product when the price goes up. B. A price increase does not have a significant impact on buying habits. C. Customers are sensitive to the price of the product. D. There are very few satisfactory substitutes for the product.
Question
Updated 1/7/2015 6:14:09 PM
1 Answer/Comment
When the demand for a product is inelastic? it means: a price increase does not have a significant impact on buying habits.



Added 1/7/2015 6:14:09 PM
This answer has been confirmed as correct and helpful.
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