Question
What do economists mean when they speak of price as a rationing mechanism? Multiple Choice A) That all goods produced will be sold. B) Consumers
What do economists mean when they speak of price as a rationing mechanism?
Multiple Choice
A) That all goods produced will be sold.
B) Consumers get the products they want at prices they can afford.
C) That shortages of goods in the market price will disappear as a result of price rising which results in the quantity demanded decreasing and the quantity supplied increasing.
D) That shortages of goods in the market price will disappear as a result of price rising which results in the quantity demanded increasing and the quantity supplied decreasing.
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