There is a shortage of quantity demanded over quantity supplied when

A. market price is above equilibrium price.
B. market price equals equilibrium price.
C. market price is below equilibrium price.

C. market price is below equilibrium price.

Economics

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Figure 10-8 ? For the perfectly competitive firm in Figure 10-8, what is the long-run price and quantity?

A. P = 4, Q = 150 B. P = 9, Q = 200 C. P = 10, Q = 200 D. P = 5, Q = 150

Economics

The wage rate will increase and firms will decrease employment to the point where MRP equals the new wage rate if

A. the supply of labor decreases. B. the supply of labor increases. C. the demand for labor decreases. D. the demand for labor increases.

Economics