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Author Question: Suppose the equilibrium rent in Denver is $1,050. A rent ceiling of $755 per month leads to (Read 285 times)

Medesa

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Suppose the equilibrium rent in Denver is $1,050. A rent ceiling of $755 per month leads to
◦ a surplus of apartments in Denver.
◦ a shortage of apartments in Denver.
◦ no change in the Denver apartment market.
◦ fair prices in the Denver market.
◦ compared to the situation at the equilibrium rent, a decrease in the quantity of apartments demanded and an increase in the quantity of apartments supplied.


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Marked as best answer by Medesa on May 24, 2019

Liddy

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Liddy

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