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Author Question: In competitive markets, price floors and price ceilings usually lead to (Read 61 times)

cyc028

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Question 1

Consider the market for rental accommodation. In the short run, the supply of this product tends to be
◦ infinitely price elastic.
◦ unit price elastic.
◦ very or completely price inelastic.
◦ very price elastic.
◦ irrelevant to the housing market price.

Question 2

In competitive markets, price floors and price ceilings usually lead to
◦ surpluses.
◦ production control by the government.
◦ shortages.
◦ more equitable distributions of commodities.
◦ a reduction in quantities exchanged.


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Marked as best answer by cyc028 on Oct 12, 2022

hariet5

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cyc028

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Reply 2 on: Oct 12, 2022
Excellent


yeungji

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Reply 3 on: Yesterday
Wow, this really help

 

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