Which of the following is not a result of imposing a rent ceiling?
A) Some consumer surplus is converted to producer surplus.
B) There is a reduction in the quantity of apartments supplied.
C) There is an increase in the quantity of apartments demanded.
D) The marginal benefit of the last apartment rented is greater than the marginal cost of supplying it.
Answer: A
You might also like to view...
A decrease in tastes for European goods in the U.S. would ____ the demand for Euros, ____ the equilibrium price (exchange value) of Euros
a. increase; increasing. b. increase; decreasing. c. decrease; increasing. d. decrease; decreasing.
Governments can discourage consumption of certain goods by:
A. a subsidy to consumers in those markets. B. imposing a minimum price above the equilibrium price. C. taxing substitute goods. D. None of these policies decrease consumption of goods.
The demand for labor is
A) derived from the satisfaction that hiring the inputs provides the owner or manager of the firm more money. B) derived from the demand for the final product being produced. C) derived from a utility maximizing process similar to that used to derive the demand curve for goods and services. D) totally unrelated to the demand curve for the final product.
Jerry's Marginal Utility for consuming beer and pizza with $8.00 in income
In the above table, Jerry experiences diminishing marginal utility after consuming how many beers?
A. 1 B. 2 C. 3 D. 4