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Tanya [424]
3 years ago
11

In a market there is a shortage of a good. What change would cause the market to come to an equilibrium?

Business
1 answer:
Oksi-84 [34.3K]3 years ago
3 0

Answer:

D) a rise in price

Explanation:

At the equilibrium point, the quantity demanded and the quantity supplied are the same. There is no excess shortage or supply in both demand and supply.

A shortage occurs when suppliers are not able to meet the market demand. Here, demand is the quantity that buyers are willing to buys at a specific price over time.  As per the law of demand, high product price causes demand to decrease while low price results in increased demand.

A shortage of a product means its demand is high. Many buyers are willing to buy the commodity at the current price.  As per the law of demand, a price increase will result in reduced demand and achieve equilibrium.

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Building with fair value of $150,000

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A general rule of thumb is to keep your credit utilization rate at 30% or lower. What is your approximate credit utilization rat
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3 years ago
Living Wages - This is the topic of debate. I am looking for a help on two things. How to write the paper and how to prepare the
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the answer is as follows

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The paper you are trying to write should start with this that how the idea of living wages is in itself difficult to be adopted as it is. Second the free market approach has been more successful in the economic history and a lot of evidence and data is available on that. The analysis that your paper will develop should outline the concerns that mainstream economists have regarding living wages and support it with some actual data.

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3 0
3 years ago
What is the total manufacturing overhead assigned to the current order for Men's Razors if the firm uses a volume-based plant wi
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Answer:

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Explanation:

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= ($168,640 + $127,840 + $554,400 + $1,078,000) ÷ $514,368

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