Suppose a good or service is highly desired, but the quantity supplied is limited.?
suppose a good or service is highly desired, but the quantity supplied is limited. how does the competition among consumers affect profits for the selling firms?
a. firms are granted tax reductions if they are producing what consumers demand.
b. consumers bid up the price, which gives larger profits to the suppliers
.c. the opportunity cost of goods sold expands profitability.
d. competing consumers will form cooperative purchasing companies and pay extra.

After graduating from college with a degree in education, matt found a teaching jobin saudi arabia. he figured that a teaching job in the middle east would be the same as a teaching job in the united states. while there were similarities between american and saudi schools, matt was unprepared for the differences between the two cultures. on the first day, a number of his students arrived later than the class's designated 10 a.m. starting time. later, during a break, he noted that his students seemed to stand closely to each other and to him when they spoke. after class, a confused matt asked the american director of the teaching program about these observations. that's why it's always important to do your homework! the director responded with a laugh. what is the possible explanation that director could gave him?