According to the News Wire Market Shortage, (a) How large was the market shortage at the Church
Question:
(a) How large was the market shortage at the Church set price of $0?
(b) If the Church had sold the tickets for $100, how would have quantity demanded changed? (increased, decreased, not changed)
(c) If the Church sold the tickets for $100, would the market shortage been larger or smaller?
(d) If the Church sold the tickets for the equilibrium price, would a market shortage exist?
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