1. Shortage of Trumpets
... maximum price at $600 for student trumpets; $300 less than the old price. Cidny's mother complained that "Cidny is ready to play the trumpet and the shelves at the music store are bare." This has resulted in a great increase for the demand of student trumpets, while the supply has ... decreased. Consumers are now fighting with each other to be first in line to buy a trumpet. The economic shortage of student trumpets caused by the price ceiling resulted in the shortages for both the consumer and producer. Yamaha Corporation of America, ... , but their involvement in the market only broug...
- Word Count: 604
- Approx Pages: 2