-The graph shows the market for ski chalets in Aspen.The Aspen Tourist Board asks the local government to impose a rent ceiling on ski chalets.If the rent ceiling is set at $1,900 a week,then there is ________.
A) a shortage of 3,000 chalets a week
B) a surplus of 3,000 chalets a week
C) neither a shortage nor surplus of chalets
D) a shortage of 6,000 chalets a week
E) a surplus of 6,000 chalets a week.

Question

-The graph shows the market for ski chalets in Aspen.The Aspen Tourist Board asks the local government to impose a rent ceiling on ski chalets.If the rent ceiling is set at $1,900 a week,then there is ________.
A) a shortage of 3,000 chalets a week 
B) a surplus of 3,000 chalets a week 
C) neither a shortage nor surplus of chalets 
D) a shortage of 6,000 chalets a week 
E) a surplus of 6,000 chalets a week.

Quizplus · Accepted Answer

A rent ceiling set below the equilibrium price (where demand equals supply) results in a shortage because the price is too low to clear the market, leading to higher demand than supply at that price point.

-The Graph Shows the Market for Ski Chalets in Aspen