Consumers Have the Greatest Incentive to Lobby for Price Controls

question 156

Multiple Choice

Consumers have the greatest incentive to lobby for price controls in the short run when supply is:

• A) inelastic and demand increases
• B) inelastic and demand decreases.
• C) elastic and demand increases.
• D) elastic and demand decreases.

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Definitions:

Happy

A state of well-being and contentment characterized by positive emotions ranging from satisfaction to intense joy.

Help Others

The act of providing assistance, support, or aid to individuals other than oneself.

Satisfaction

The feeling of fulfillment or contentment that arises from achieving desired outcomes or experiences.

Basic Emotions

Fundamental emotions that are experienced by humans across cultures, such as happiness, sadness, fear, and anger.