What will I do differently as a seller in the black market in the long run?
A) I will substitute away from producing the product.
B) I will substitute toward producing the product.
C) When there exists a binding price floor, I will be able to sell the good at a higher price.
D) When there exists a binding price ceiling, I will be able to sell the good at a lower price.
E) What I as a seller do in the long run will be no different from what I do in the short run.
Correct Answer:
Verified
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