Assuming a binding price floor, the more elastic the supply and demand curves are, the:
A) smaller the shortage a price floor will create.
B) greater the shortage a price floor will create.
C) smaller the surplus a price floor will create.
D) greater the surplus a price floor will create.

Question

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The Answer of Assuming a binding price floor, the more elastic the supply and demand curves are, the:
A) smaller the shortage a price floor will create.
B) greater the shortage a price floor will create.
C) smaller the surplus a price floor will create.
D) greater the surplus a price floor will create.

Assuming a Binding Price Floor, the More Elastic the Supply