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Author Question: The graph shows the market for apartments in San Francisco. Assume that P1=$0.50, P2=$4.50, ... (Read 160 times)

mimie

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The graph shows the market for apartments in San Francisco.
 

Assume that P1=$0.50, P2=$4.50, P3=$7.25, P4=$14.25, P5=$19.00, Q1=60, Q2=160, and Q3=235. What is the maximum price a landlord can legally charge for an apartment? How many apartments are rented at that price? At the rent control price, there is a ________ (shortage/surplus) equal to ________. What is the black market price of an apartment? How many apartments are rented at that price?
◦ $4.50, 60, shortage, 175, $14.25, 60
◦ $4.50, 60, surplus, 100, $7.25, 160
◦ $4.50, 60, surplus,175, $7.25, 160
◦ $4.50, 60, shortage, 100, $14.25, 60


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Marked as best answer by mimie on Nov 23, 2022

Tussalpain

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mimie

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Reply 2 on: Nov 23, 2022
Excellent


vickybb89

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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