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13 January, 08:56

4. Why doesn't a change in the price of eggs cause a change in the demand for eggs? What causes a shortage and how can it fairly quickly be resolved?

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  1. 13 January, 09:08
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    Eggs are a necessity and the price of eggs usually wouldn't change the demand of eggs because people need eggs enough to purchase them at any price. It's also because a price change usually occurs as a result of a demand change, not the other way around (unless they lose a lot of money). What causes a shortage is when there isn't enough of a product produced and it depends on the item as how quickly it can be fixed. If it's a "made" product, then the turn around can be pretty quick. It just comes down to the company making more. But if it's a grown or produced product, like corn, it is up to the farming industry as to how fast it can be resolved.
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