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-The Figure Above Shows the Demand for and Supply of Rental

Question 25

Multiple Choice

-The figure above shows the demand for and supply of rental housing in Steppeville. A rent ceiling is set at $700. The rent ceiling creates a ________ and there ________ a deadweight loss. A) surplus of 1,200 apartments; is not B) surplus of 600 apartments; is C) shortage of 600 apartments; is D) shortage; 1,200 apartments; is not
-The figure above shows the demand for and supply of rental housing in Steppeville. A rent ceiling is set at $700. The rent ceiling creates a ________ and there ________ a deadweight loss.


A) surplus of 1,200 apartments; is not
B) surplus of 600 apartments; is
C) shortage of 600 apartments; is
D) shortage; 1,200 apartments; is not

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