Multiple Choice
Why does a surplus that occurs under a binding price floor 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.
Correct Answer:
Verified
Correct Answer:
Verified
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