People are likely to pay less for an item during a shortage. True False

asked Sep 28, 2022 10.8k views

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People are likely to pay less for an item during a shortage.

True

False

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1 vote

If a shortage exists, price must rise in order to entice additional supply and reduce quantity demanded until the shortage is eliminated.

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Answer:

False

Step-by-step explanation:

If the supply for something is low and demand is high, the price will increase.

Luke Moore answered Oct 4, 2022

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