Why Does a Shortage That Occurs Under a Binding Price

question 13

Multiple Choice

Why does a shortage that occurs under a binding price ceiling increase over time?

• A) Demand becomes more elastic.
• B) Demand becomes more inelastic.
• C) Demand and supply both become more elastic.
• D) Demand and supply both become more inelastic.
• E) Demand becomes more elastic,but supply becomes more inelastic.

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