During the COVID 19 pandemic, the demand for personal protective equipment increased. What adjustments would the market make as a result that would benefit the economy? Group of answer choices The price of personal protective equipment would fall because producers could not meet the demand at lower prices. The price of personal protective equipment would rise, signaling to producers that more production was needed. The price of personal protective equipment would rise, signaling to consumers that they should purchase less personal protective equipment. The supply of personal protective equipment fell as production became more expensive.

During the COVID 19 pandemic, the demand for personal protective equipment increased. What adjustments would the market make as a result that would benefit the economy? Group of answer choices The price of personal protective equipment would fall because producers could not meet the demand at lower prices. The price of personal protective equipment would rise, signaling to producers that more production was needed. The price of personal protective equipment would rise, signaling to consumers that they should purchase less personal protective equipment. The supply of personal protective equipment fell as production became more expensive.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter5: Supply, Demand, And Price: Applications

Section5.5: Application 5: Why Is Medical Care So Expensive?

Problem 1ST

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