If the price system is allowed to function without interference and a shortage occurs, quantity demanded will
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If the price system is allowed to function without interference and a shortage occurs, quantity demanded will __________ and quantity supplied will _____as the price rises to its equilibrium level.
a) rise, rise
b) fall, fall
c) rise, fall
d) fall, rise
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The correct answer is c rise fall Explanation Heres why each option is correct or incorrect a rise r...View the full answer
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