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Author Question: Using a supply and demand graph, illustrate the market for rent-controlled apartments with the ... (Read 146 times)

rmenurse

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on: Mar 15, 2019

Using a supply and demand graph, illustrate the market for rent-controlled apartments with the following data:








What is the value of the initial shortage of apartments with rent control?



Now assume rent control leads to a reduction in the supply of apartments, and the new quantity supplied is now 15,000. Illustrate this on your graph.



What is the value of the shortage of apartments following the decrease in supply?

Macroeconomics ¦ Hubbard, O'Brien ¦ 6th Edition
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Marked as best answer by rmenurse on Mar 15, 2019

fauacakatahaias

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Reply #1 on: Mar 15, 2019
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rmenurse

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Reply 2 on: Mar 15, 2019
:D TYSM

diana chang

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Reply 3 on: Yesterday
Wow, this really help

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