In a free-market economic system, if consumers perceive the price for a state-of-the-art smartphone as too high for the value received, they are likely to avoid buying it. In the same light, if the __________.
a) consumer's desired price is too low, producers will want to produce an abundance of the product
b) seller's price is too low, consumers will definitely consider it of poor quality
c) consumer's desired price is too low, producers will refuse to make a substitute
d) consumer's desired price is too low, producers may limit the amount produced
Answer: d