if the current price of a good is less than the equilibrium price, there will be\n\na. no shortage or…

if the current price of a good is less than the equilibrium price, there will be\n\na. no shortage or surplus of the good\n\nb. a surplus of the good and its price will increase\n\nc. a shortage of the good and its price will increase\n\nd. a shortage of the good and its price will decrease

if the current price of a good is less than the equilibrium price, there will be\n\na. no shortage or surplus of the good\n\nb. a surplus of the good and its price will increase\n\nc. a shortage of the good and its price will increase\n\nd. a shortage of the good and its price will decrease

Answer

Brief Explanations:

When the current price is below the equilibrium price, quantity demanded exceeds quantity supplied, leading to a shortage. To resolve the shortage, the price will increase as per the laws of supply and demand.

Answer:

C. a shortage of the good and its price will increase