Complete the following statement: When there is a shortage of a good A. consumers compete against...

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Complete the following statement: "When there is a shortage of a good A. consumers compete against one another by bidding the price upward. B. producers react to shortages by lowering prices. C. decreasing prices lead to a change in demand. D. as prices increase, consumer demand more of a particular good. E. as prices increase, producers are driven to produce less. The process continues until the market is finally in equilibrium." Complete the following statement: "When there is a shortage of a good A. consumers compete against one another by bidding the price upward. B. producers react to shortages by lowering prices. C. decreasing prices lead to a change in demand. D. as prices increase, consumer demand more of a particular good. E. as prices increase, producers are driven to produce less. The process continues until the market is finally in equilibrium." Complete the following statement: "When there is a shortage of a good A. consumers compete against one another by bidding the price upward. B. producers react to shortages by lowering prices. C. decreasing prices lead to a change in demand. D. as prices increase, consumer demand more of a particular good. E. as prices increase, producers are driven to produce less. The process continues until the market is finally in equilibrium." Complete the following statement: "When there is a shortage of a good A. consumers compete against one another by bidding the price upward. B. producers react to shortages by lowering prices. C. decreasing prices lead to a change in demand. D. as prices increase, consumer demand more of a particular good. E. as prices increase, producers are driven to produce less. The process continues until the market is finally in equilibrium."

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