
The above figure shows supply and demand curves for apartment units in a large city. The area "c" represents
◦ the total revenue received by supplying Q1 units.
◦ a transfer from consumers to producers if a rent ceiling of $350 is imposed.
◦ the loss in consumer surplus if a rent ceiling of $350 is imposed.
◦ a transfer from producers to consumers if a rent ceiling of $350 is imposed.