Question
In a shortage, what happens to price of things?
a
Decreases
b
Increases
a
Decreases
b
Increases
Answers
GPT-4o mini
b. Increases
In a shortage, the demand for a product exceeds the supply available, which typically leads to an increase in price as consumers are willing to pay more to obtain the limited quantity available.
In a shortage, the demand for a product exceeds the supply available, which typically leads to an increase in price as consumers are willing to pay more to obtain the limited quantity available.