In the long run, if there is a shortage in the market for a product, the guiding

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In the long run, if there is a shortage in the market for a product, the guiding (Allocation) function of price can be expected to cause

A. An increasing shift in the demand for the product

B. A decreasing shift in the demand for the product

C. An increase shift in the supply of the product.

D. A decreasing shift in the supply of the product

Related Book For answer-question

Modern Principles of Economics

ISBN: 978-1429278393

3rd edition

Authors: Tyler Cowen, Alex Tabarrok

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Posted Date: Nov 02, 2018 11:23 AM

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In the long run, if there is a shortage in the market for a product, the guiding

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D A decreasing shift in the supply of the product In the long run when seller knows tha... View the full answer

Modern Principles of Economics

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