What is the difference between scarcity and shortage?

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What is the difference between “scarcity” and “shortage”?

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Microeconomics and Behavior

ISBN: 978-0078021695

9th edition

Authors: Robert Frank

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Question Posted: Dec 12, 2014 10:18 AM

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What is the difference between scarcity and shortage?

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A shortage occurs when at a given price quantity dema...View the full answer

Microeconomics and Behavior

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