If, at the current price, there is a shortage of a good, then a. sellers are producing more than buyers wish to buy. b. the market must be in equilibrium. c. the price is below the equilibrium price. the. quantity demanded equals quantity supplied

Question

Anabel Thompson

Business

13 March, 06:39

If, at the current price, there is a shortage of a good, then a. sellers are producing more than buyers wish to buy. b. the market must be in equilibrium. c. the price is below the equilibrium price. the. quantity demanded equals quantity supplied

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Genevieve Zamora · Answer 1

Answer: Option c

Explanation: The production by the producers for availability in the market is knows as the supply function in economics. And the amount of goods that the consumers are willing to buy at a given price is the demand function.

Thus, if there is a shortage of good in the market it means the price charged by the suppliers is below the equilibrium level. Therefore, the consumers who actually do not need it are demanding the product.

Hence we can conclude that the right option is C.