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Author Question: Suppose the government imposes rent control (a price ceiling) below the equilibrium price for rental ... (Read 185 times)

ashley

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on: Jun 30, 2018
Suppose the government imposes rent control (a price ceiling) below the equilibrium price for rental housing. Which of the following could result?
 a. Tenants risk breaking rent control law.
  b. The quality of existing rental housing deteriorates.
  c. Shortages.
  d. All of these.

Question 2

Suppose a price ceiling is set by the government below the market equilibrium price. Which of the following will result?
 a. The demand curve will shift to the left.
  b. The quantity demanded will exceed the quantity supplied.
  c. The quantity supplied will exceed the quantity demanded.
  d. There will be a surplus.


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olderstudent

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

b


ashley

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

komodo7

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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