-The above figure shows a housing market with a rent ceiling equal to $1,000.In this figure,what area is equal to the resources lost due to search?

Question

Quizplus · Accepted Answer

Area B represents the resources lost due to search activities in the housing market when a rent ceiling is imposed. This is because it reflects the inefficiency and the extra costs incurred by individuals as they spend time and resources looking for housing at the controlled price, which is below the market equilibrium.

-The Above Figure Shows a Housing Market with a Rent