Multiple Choice

-The above figure shows the market for 2-bedroom townhouses in Canberra. If a rent ceiling is set at $1,000 per month then there is a
A) surplus equal to 150,000 townhouses.
B) shortage equal to 150,000 townhouses.
C) shortage equal to 250,000 townhouses.
D) surplus equal to 100,000 townhouses.
E) shortage equal to 100,000 townhouses.
Correct Answer:
Verified
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