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In which case would the shortage resulting from a price ceiling be greater: when supply is inelastic or elastic? Explain your answer.
a. Inelastic. The reason is that the response in quantity supplied is greater when producers are not greatly affected by changes in price.
b. Elastic. The reason is that the response in quantity supplied is greater when price elasticity is greater.
c. Inelastic. The reason is that the response in quantity supplied is greater when price elasticity is lower.
d. Elastic. The reason is that the response in quantity supplied is greater when producers are not greatly affected by changes in price.
Calculate the monopolist's profit.
Charge of development for your housing nonprofit and assuming that your non-profit is risk-neutral, which grant should you apply for
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