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Author Question: Other things being equal, the increase in rents that occurs after rent controls are abolished is ... (Read 74 times)

Jkov05

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on: Jul 1, 2018
Other things being equal, the increase in rents that occurs after rent controls are abolished is smaller when
 
  A) the own price elasticity of demand for rental homes is price inelastic.
  B) the own price elasticity of demand for rental homes is price elastic.
  C) the own price elasticity of demand for rental homes has unitary price elasticity.
  D) rented homes and owned homes are complements.
  E) rented homes and owned homes are substitutes.

Question 2

The condition that requires MRTS for each input pair to equal the ratio of their marginal costs is known as ________ efficiency, and the condition that requires MRS for each output pair to equal their output price ratio is known as ________
 
  efficiency. A) economic, market
  B) micro, macro
  C) cost, revenue
  D) technical, output


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tanna.moeller

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

D


Jkov05

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

hramirez205

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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