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-In the Figure Above, Originally the Apartment Rental Market Is

Question 59

Multiple Choice

-In the figure above, originally the apartment rental market is in short-run and long-run equilibrium with a rent of $600 per month. Then the government imposes a rent ceiling of $500 per month. The rent ceiling leads to a A) shortage of 1000 apartments. B) shortage of 2000 apartments. C) surplus of 1000 apartments. D) surplus of 2000 apartments.
-In the figure above, originally the apartment rental market is in short-run and long-run equilibrium with a rent of $600 per month. Then the government imposes a rent ceiling of $500 per month. The rent ceiling leads to a


A) shortage of 1000 apartments.
B) shortage of 2000 apartments.
C) surplus of 1000 apartments.
D) surplus of 2000 apartments.

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