Author Question: Refer to Figure 4-5. With rent control, the quantity supplied is Q1. Suppose apartment owners ignore ... (Read 59 times)

gonzo233 · **on:** Jun 29, 2018

Refer to Figure 4-5. With rent control, the quantity supplied is Q1. Suppose apartment owners ignore the law and rent this quantity for the highest rent they can get. What is the highest rent they can get?

A) R1 B) R0 C) more than R1 D) R

Question 2

Refer to Table 2-8. What is Betty's opportunity cost of making a statue?

A) 2 benches B) 1.4 statues C) 1/2 of a bench D) 1/3 of a bench