-The graph shows the market for ski chalets in Aspen.If a rent ceiling is set at $1,900 a week,then the maximum amount charged in the black market is ________ a week.
A) $1,900
B) $2,050
C) $2,125
D) $225
E) $150

Question

-The graph shows the market for ski chalets in Aspen.If a rent ceiling is set at $1,900 a week,then the maximum amount charged in the black market is ________ a week.
A) $1,900 
B) $2,050 
C) $2,125 
D) $225 
E) $150

Quizplus · Accepted Answer

If a rent ceiling is set below the equilibrium price, it creates a shortage. In a black market, prices can rise to the equilibrium level or higher. The maximum amount charged would be the equilibrium price, which is $2,125.

-The Graph Shows the Market for Ski Chalets in Aspen