E Quiz: Chapter 4 Homework Si X + (- C i psuinstructurecom . ' : CANVAS '3 Lion Path Starfish C Chegg * Course Hero 0 MAIL I CampusGroups \\/ Question 1 @ 222872022239; Started. Sep 30 at 10,12pm Question 2 Home QUIZ Instructions @ Question 3 Spacer (g) Syllabus Complete the following questions related to the supply and demand model. Queson 4 . . . . . . . . Queson 5 Account Announcements Please note. Canvas grades aSSIgnments by subtracting pomts for wrong answers. On matching questions (like # 3), if you have more incorrect than correct answers you will get a score of zero. This does not mean you had everything Time Elapsed: HideTime MOdUles wrong- A d -s so 11-59 Dashboard ttempt ue. ep at . pm Course Google Drive 14 Minutes, 46 Seconds E Gr d i . Courses 3 es 0 C Question 3 2 pts Quizzes Assignments Imagine that in the market for milk there is currently a shortage. How does the market return to equilibrium? Place the following steps in heir correct order. Zoom Calendar Collaborations _ d d d d ' |_ d Quantity eman e an quantity supp ie Choose] V are now equal. Prices Will begin to rise as suppliers increase Choose] V History price and consumers offer more for the milk. lgl , To begin with, quantity demanded is greater Choose] V My Media than quantity supplied. Suppliers Will not have enough milk and Choose] V some consumers who want the product at the current price will be unable to buy it. Increasing Prices lead to a decrease in Choose] V quantity demanded and an increase in quantity supplied