Question
a price below the equilibrium level will cause a small shortage when demand is ________________ and supply is ______________. 1. perfectly inelastic; elastic 2.elastic; elastic
a price below the equilibrium level will cause a small shortage when demand is ________________ and supply is ______________.
1. perfectly inelastic; elastic
2.elastic; elastic
3.elastic; inelastic
4.inelastic: inelastic
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Managerial Economics Theory Applications and Cases
Authors: Bruce Allen, Keith Weigelt, Neil A. Doherty, Edwin Mansfield
8th edition
978-0393124491, 393124495, 978-0039391277, 393912779, 978-0393912777
