Why does a shortage that occurs under a binding price ceiling decrease over time? A.Demand becomes more

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Why does a shortage that occurs under a binding price ceiling decrease 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.

Related Book For answer-question

Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

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Posted Date: Mar 16, 2023 12:21 AM

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Why does a shortage that occurs under a binding price ceiling decrease over time? A.Demand becomes more

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Microeconomics An Intuitive Approach with Calculus

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