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Figure 4-8 Shows the Market for Apartments in Springfield

Question 228

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Figure 4-8 shows the market for apartments in Springfield.Recently,the government imposed a rent ceiling of $1,000 per month. -Refer to Figure 4-8.What is the value of consumer surplus after the imposition of the ceiling? A) $120,000 B) $230,000 C) $270,000 D) $430,000 Figure 4-8 shows the market for apartments in Springfield.Recently,the government imposed a rent ceiling of $1,000 per month.
-Refer to Figure 4-8.What is the value of consumer surplus after the imposition of the ceiling?


A) $120,000
B) $230,000
C) $270,000
D) $430,000

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