What can we conclude if consumers areforced to wait in long line-ups in order topurchase products such as food and fuel?ABсDThat the price of these items is atequilibrium.That price is operating effectivelyas a rationing mechanism.That producers are producingmore than people want.Producers would be willing toproduce more if price wereallowed to rise.

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What can we conclude if consumers are forced to wait in long line-ups in order to purchase products such as food and fuel? TI C

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

What can we conclude if consumers are
forced to wait in long line-ups in order to
purchase products such as food and fuel?
A
B
с
D
That the price of these items is at
equilibrium.
That price is operating effectively
as a rationing mechanism.
That producers are producing
more than people want.
Producers would be willing to
produce more if price were
allowed to rise.

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