In which of the following situations would the price of goods be mostly to increase? A. The level of production rises to catch up with a sudden rise in consumer demand. B. There's a sudden increase in the number of companies competing to sell the good. C. A rise in demand happens too quickly for producers to increase production to keep up. D. The development of a new energy source reduces production costs for a company.

Question

Abbie Kirk

9 February, 14:02

+3

Answers (1)

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Dylan Calderon · Answer 1

C

Explanation:

Due to a rise in demand, producers reduce supply, hence leading to an increase in price.