Asked by Willow Stevens on Jul 24, 2024
Verified
A shortage of textbooks is most likely to cause:
A) a decrease in the supply of textbooks.
B) a decrease in the demand for textbooks.
C) a decrease in the price of paper.
D) an increase in the cost of printing.
E) an increase in the price of textbooks.
Textbooks Shortage
A textbooks shortage refers to a situation where the demand for educational textbooks exceeds the available supply.
Printing Cost
The expenses associated with producing printed materials, such as ink, paper, and machine maintenance.
- Determine the factors leading to shortages and surpluses in markets.
- Familiarize oneself with the idea of market equilibrium and the variables that push towards it.
Verified Answer
MO
Mario OchoaJul 24, 2024
Final Answer :
E
Explanation :
When there is a shortage of textbooks, the demand for textbooks will not decrease, but rather increase as students and teachers would still require them for their studies. A decrease in the supply of textbooks will cause an increase in the price of textbooks due to the basic principles of supply and demand. The cost of printing may increase due to increased demand, but the shortage of textbooks would lead to an increase in prices rather than a decrease in the cost of printing. The price of paper may or may not be affected by the shortage of textbooks. Therefore, option E is the correct answer.
Learning Objectives
- Determine the factors leading to shortages and surpluses in markets.
- Familiarize oneself with the idea of market equilibrium and the variables that push towards it.