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

Question 48

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 loss of producer surplus as a result of the price ceiling is A) $50,000 per month. B) $250,000 per month. C) $500,000 per month. D) more than $500,000 per month.
-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 loss of producer surplus as a result of the price ceiling is


A) $50,000 per month.
B) $250,000 per month.
C) $500,000 per month.
D) more than $500,000 per month.

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