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-The Above Figure Shows the Demand and Supply Curves for Housing

Question 62

Multiple Choice

-The above figure shows the demand and supply curves for housing in City B. What would be the effects of a rent ceiling equal to $1000 per month? A) a surplus equal to 3000 apartments B) a surplus equal to 250 apartments C) a shortage equal to 3000 apartments D) nothing because the rent ceiling has no effect on the equilibrium price and quantity
-The above figure shows the demand and supply curves for housing in City B. What would be the effects of a rent ceiling equal to $1000 per month?


A) a surplus equal to 3000 apartments
B) a surplus equal to 250 apartments
C) a shortage equal to 3000 apartments
D) nothing because the rent ceiling has no effect on the equilibrium price and quantity

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