In General, Price Controls Have a _______ Effect in the _______

question 35

Multiple Choice

In general, price controls have a _______ effect in the _______ than in the _______ because demand and supply become _______ elastic over time.

• A) larger; long run; short run; more
• B) larger; short run; long run; more
• C) smaller; long run; short run; less
• D) smaller; short run; long run; less

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Definitions:

Purchase Discount

A reduction in the price of goods or services, offered by the seller to the buyer, typically for early payment or bulk buying.

Inventory Stock Status

A report or record showing the quantities, status, and conditions of items a company has in stock.

Non-inventory Item

A non-inventory item is a type of product or service that a business sells or buys but does not track as part of its inventory.

Specific Customer Job

A particular project or task undertaken for a specific client, often used in the context of billing or project management.