Use the following to answer question: -(Figure: Rent Controls)Use Figure: Rent Controls.If rent controls are set at Rent₀,renters would be willing to pay a price at least as high as: A)Rent₄ for Q₀ units. B)Rent₄ for Q₁ units. C)Rent₃ for Q₁ units. D)No one would be willing to pay a higher actual price than Rent₀.

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Rent controls set below the equilibrium price create a shortage, leading to a higher willingness to pay by renters to secure the limited available units.

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