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:

Cerumen

The scientific term for earwax, a substance produced in the ear canal that protects and lubricates the ears.

Xerostomia

A medical term for dry mouth resulting from reduced or absent saliva flow.

Salivation

The secretion and discharge of saliva by the salivary glands in the mouth, vital for digestion and oral health.

Urinary Incontinence

The loss of bladder control resulting in the involuntary leakage of urine.