In general, price controls have a:

A. larger effect in the long run because demand and supply become more elastic over time.
B. larger effect in the short run since demand and supply become more elastic over time.
C. smaller effect in the long run since demand and supply become less elastic over time.
D. smaller effect in the short run because demand and supply become less elastic over time.


A. larger effect in the long run because demand and supply become more elastic over time.

Economics

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