Exhibit 4-8
-As shown in Exhibit 4-8,when a government sets a rent ceiling at $750 per month,the result is a(n)

Name: Exhibit 4-8 -As shown in Exhibit 4-8,when a government sets a rent ceiling at $750 per month,the result is a(n)
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Question

Exhibit 4-8 
-As shown in Exhibit 4-8,when a government sets a rent ceiling at $750 per month,the result is a(n)

Quizplus · Accepted Answer

When a government sets a rent ceiling below the market equilibrium rent, it leads to a shortage of rental units. In this case, since the rent ceiling is set at $750 per month, it is likely below the equilibrium rent, leading to a shortage of available units at this price.

Exhibit 4-8 -As Shown in Exhibit 4-8,when a Government Sets a Rent