Use the following to answer question(s): Rent Controls

-(Exhibit: Rent Controls) Without rent controls, the equilibrium rent is _______ and the equilibrium quantity is _______ .
A) Rent₂; Q₁
B) Rent₁; Q₁
C) Rent₂; Q₂
D) Rent₃; Q₃

Question

Use the following to answer question(s): Rent Controls
 
-(Exhibit: Rent Controls) Without rent controls, the equilibrium rent is _______ and the equilibrium quantity is _______ .
A) Rent₂; Q₁ 
B) Rent₁; Q₁ 
C) Rent₂; Q₂ 
D) Rent₃; Q₃

Quizplus · Accepted Answer

Without rent controls, the equilibrium rent and quantity are determined by the intersection of the supply and demand curves, which is Rent₂ and Q₂.

Use the Following to Answer Question(s): Rent Controls