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-The Above Figure Shows the Apartment Rental Market in Bigtown

Question 58

Multiple Choice

-The above figure shows the apartment rental market in Bigtown. If the market is in equilibrium and then the Bigtown Housing Authority imposes a rent ceiling of $500 per apartment, which of the following would occur? A) a decrease in the search time and expense of finding an apartment B) an increase in the search time and expense of finding an apartment C) an increase in producer surplus but a decrease in consumer surplus D) an increase in efficiency
-The above figure shows the apartment rental market in Bigtown. If the market is in equilibrium and then the Bigtown Housing Authority imposes a rent ceiling of $500 per apartment, which of the following would occur?


A) a decrease in the search time and expense of finding an apartment
B) an increase in the search time and expense of finding an apartment
C) an increase in producer surplus but a decrease in consumer surplus
D) an increase in efficiency

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