Use the following to answer question:
-(Figure: Rent Controls) Use Figure: Rent Controls.Suppose that rent controls are imposed.If the government wanted a rent control ceiling to be effective immediately,what is one possible price to set?

Question

Use the following to answer question:

-(Figure: Rent Controls) Use Figure: Rent Controls.Suppose that rent controls are imposed.If the government wanted a rent control ceiling to be effective immediately,what is one possible price to set?

Quizplus · Accepted Answer

For a rent control ceiling to be effective immediately, it must be set below the current market equilibrium price. Choice C represents a price below the equilibrium, making it an effective rent control price.

Use the Following to Answer Question