Which of the following accurately describes the effect of a situation of
scarcity?

a. a car company has a slow-down in sales, driving it
to offer a cash-back rebate.

b. there's a shortage of oil, pushing car companies
into researching alternative fuels.

c. a car company produces fewer cars than
consumers demand, leading to a rise in prices.

d. there's a reduction in the cost of steel, enabling a
car company to reduce the sale price of its cars.