As the Time Frame Shifts from the Short Run to the Long

question 172

Multiple Choice

As the time frame shifts from the short run to the long run,what happens to consumers who are subject to a binding price floor?

• A) They are increasingly willing to substitute away from the good,and the demand curve becomes less elastic.
• B) There are no changes,and elasticity remains unchanged.
• C) They are less willing to substitute away from the good,and the demand curve becomes less elastic.
• D) They are increasingly willing to substitute away from the good,and the demand curve becomes more elastic.
• E) They are less willing to substitute away from the good,and the demand curve becomes more elastic.

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Definitions:

Conus Medullaris

The tapered, lower end of the spinal cord which terminates in the lumbar region of the spine.

Cauda Equina

A bundle of spinal nerves and spinal nerve rootlets which appear as a "horse's tail" at the base of the vertebral column.

Spinal Cord

A long, thin, tubular bundle of nervous tissue and support cells that extends from the brainstem to the lumbar region, serving as the main pathway for information connecting the brain and peripheral nervous system.

Third Ventricle

A narrow, vertical cavity in the brain located between the two halves of the diencephalon, involved in the production and flow of cerebrospinal fluid.