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Current, or at least in the very recent past, we have had shortages of items like...

Current, or at least in the very recent past, we have had shortages of items like toilet paper and disinfecting wipes and hand sanitizer.

(a) Does a shortage imply that the price of the item is above or below the equilibrium price? Please give an explanation.

(b) What happened to demand or supply that led to the shortage? Please explain.

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