In a free market for rental housing, effective rent control would have which effect?
A) It would cause a reduction in the number of apartments.
B) It would cause an increase in the number of apartments, since landlords would try to increase their profits through larger scale.
C) It would have no effect on the number of apartments offered in the market.
D) The results are impossible to predict.
Correct Answer:
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Q183: Owners of buildings can expect to collect
Q187: Entrepreneurs differ from managers because
A)they use innovation
Q189: Which factor receives the profit from production?
A)land
B)labor
C)capital
D)entrepreneurship
Q189: Innovation is
A)the same thing as invention.
B)the desired
Q191: Profits
A)are what remains from the selling price
Q192: Entrepreneurship is
A)restricted to perfect competition.
B)occurs only in
Q195: Suppose that a community seeks to preserve
Q195: In a free market for rental housing,
Q196: Invention is the discovery of a new
Q197: The three major sources of economic profit
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