19. If many buyers want a good or service that is in low supply, the price will most likely ____________. (1 point) Responses increase increase stay the same stay the same decrease
If many buyers want a good or service that is in low supply, the price will most likely increase. This is due to the economic principle of supply and demand. When the demand for a product is high but the supply is limited, sellers can charge higher prices as they have more bargaining power. The scarcity of the product creates competition among buyers, leading them to be willing to pay more to obtain it. Ultimately, this increase in demand and limited supply drives the price up.
