(Figure: Rent Controls in the Market for Apartments in New York City) Use Figure: Rent Controls in the Market for Apartments in New York City. If a rent ceiling were set at $800, renters would be willing to pay a price at least as high as:
A)$1,200 for 1.8 million units.
B)$1,200 for 1.9 million units.
C)$1,100 for 1.9 million units.
D)No one would be willing to pay a higher rent than $800.

Question

(Figure: Rent Controls in the Market for Apartments in New York City) Use Figure: Rent Controls in the Market for Apartments in New York City. If a rent ceiling were set at $800, renters would be willing to pay a price at least as high as: 
A)$1,200 for 1.8 million units. 
B)$1,200 for 1.9 million units. 
C)$1,100 for 1.9 million units. 
D)No one would be willing to pay a higher rent than $800.

Quizplus · Accepted Answer

The Answer of (Figure: Rent Controls in the Market for Apartments in New York City) Use Figure: Rent Controls in the Market for Apartments in New York City. If a rent ceiling were set at $800, renters would be willing to pay a price at least as high as: 
A)$1,200 for 1.8 million units. 
B)$1,200 for 1.9 million units. 
C)$1,100 for 1.9 million units. 
D)No one would be willing to pay a higher rent than $800.