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What happens to demand or supply that led to the shortage

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Reference no: EM132565446

Current, or at least in the very recent past, we have had shortages of items like toilet paper, disinfecting wipes and hand sanitizer.

Question (a) Does a short imply that the price of the item is above or below the equilibrium price?

Question (b) What happens to demand or supply that led to the shortage? Please explain.

Reference no: EM132565446

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