Homework Answers
Choice, Opportunity cost and Scarcity are linked by very definitions of each.
Utility depends on demand of a good and a scarce good has high value and more demand.
rationing device is a filter and decide who gets how much of a scarce resource.
So dollar price is least likely to be an effect of scarcity as it is affected due to the shortage of a dollar value rather than a scarcity.
a. Dollar Price.
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