(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. Without rent control, the equilibrium rent is:
A)$1,200.
B)$900.
C)$1,000.
D)$1,100.

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. Without rent control, the equilibrium rent is: 
A)$1,200. 
B)$900. 
C)$1,000. 
D)$1,100.

Quizplus · Accepted Answer

Without rent control, the equilibrium rent is the intersection of the supply and demand curves, which occurs at a rent of $1,000.