At a price of $1500 per unit, the demand for Ranger mountain bikes is 500 units each year, which is the amount manufactured each year. If Ranger decides to sell each bike at a reduced price, then _ (blank) _. Question 20Select one: a. a shortage of bikes will be created b. the number of bikes produced will increase drastically c. an inelastic demand for the bikes will be created d. the demand for and the supply of the bikes will attain equilibrium