In a housing market with no rent ceilings, the equilibrium rent is that for which the quantity of apartments demanded
A) equals the quantity supplied.
B) is greater than the quantity supplied.
C) is less than the quantity supplied.
D) might be greater than, equal to, or less than the quantity supplied depending on whether the supply curve is upward sloping, horizontal, or vertical.
E) None of the above answers is correct because without rent ceilings there is no equilibrium rent.
A
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A) higher; less competitive B) lower; less competitive C) higher; more firms in D) lower; more profitable
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aggregate demand. A) increase; increase B) decrease; increase C) increase; decrease D) decrease; decrease
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a. True b. False Indicate whether the statement is true or false
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