Which of the following statements about a binding price ceiling is true ?

Question

Xaibi Aslam · Accepted Answer

The shortage created by the price ceiling is greater in the long run than in the short run

Xaibi Aslam · Answer

The shortage created by the price ceiling is greater in the short ran than in the long run.

Xaibi Aslam · Answer

The surplus created by the price ceiling is greater in the short run than in the long run

Xaibi Aslam · Answer

The surplus created by the price ceiling is greater in the long run than in the short run

Question #48880