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-The Above Figure Shows the Market for 2-Bedroom Townhouses in Canberra

Question 26

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, what is true? A) The quantity demanded of townhouses is less than the quantity supplied. B) The quantity of townhouses supplied increases to 250,000. C) Black market rents might be as high as $1,300 per month. D) More townhouses are rented after the rent ceiling than before. E) The quantity of townhouses demanded decreases to 100,000.
-The above figure shows the market for 2-bedroom townhouses in Canberra. If a rent ceiling is set at $1,000 per month, what is true?


A) The quantity demanded of townhouses is less than the quantity supplied.
B) The quantity of townhouses supplied increases to 250,000.
C) Black market rents might be as high as $1,300 per month.
D) More townhouses are rented after the rent ceiling than before.
E) The quantity of townhouses demanded decreases to 100,000.

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