Question

5. What happens to price when a good becomes more scarce?

a. Price will decrease.
b. Price will remain constant.
c. Price will increase.
d. There is not enough information to answer this question.

Answer 1

C. Price increases.

Step-by-step explanation:

Supply for the good decreases while demand remains constant, and people would have to compete with each other more to obtain the good

The seller would naturally sell the good to the highest bidder/buyer so as to maximise his profit, thus as a good becomes scarcer, its price increases

Answer 2

pretty sure it’s C. Price will increases