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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Definitions:

Involuntary Commitment

The process by which individuals are admitted to a psychiatric hospital or ward against their will due to danger to themselves or others.

Medication

Substances used to diagnose, treat, or prevent disease and improve health in humans or animals, often in the form of drugs or pharmaceuticals.

Unethical

Unethical behavior is that which goes against moral principles or professional standards, often involving actions that are dishonest, unfair, or harmful to others.

Drug Treatment

The use of pharmaceutical substances to treat or manage medical conditions.