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Rent Control Policies Tend to Cause

Question 169

Multiple Choice

Rent control policies tend to cause

A) relatively smaller shortages in the short run than in the long run because supply and demand tend to be more elastic in the short run than in the long run.
B) relatively larger shortages in the short run than in the long run because supply and demand tend to be more elastic in the short run than in the long run.
C) relatively larger shortages in the short run than in the long run because supply and demand tend to be more inelastic in the short run than in the long run.
D) relatively smaller shortages in the short run than in the long run because supply and demand tend to be more inelastic in the short run than in the long run.

Correct Answer: