Use economic analysis to explain why tenants in New York City who are covered by rent-controlled laws do not want to move
Please provide the best answer for the statement.
The tenants obtain the rights to the apartment at the rent-controlled price. The rent-controlled price is far below the market price for such an apartment. If they move out, they will have to pay market rates for an apartment that can be thousands of dollars higher per month.
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Which of the following is true for a competitive buyer?
A) AE = ME B) AE > ME C) AE < ME D) AE greater than or equal to ME
As interest rates increase, the quantity of loanable funds that are supplied to the loanable funds market
a. increases because people will be attracted by the higher rate of interest b. decreases because businesses borrow less c. increases because businesses borrow less d. decreases because people save less e. decreases because people will be attracted by the higher rate of interest
A competitive firm will maximize profit by producing the level of output at which
A. the firm's total revenue exceeds total cost by the largest amount. B. the additional revenue from the last unit of output produced exceeds the additional cost of the last unit by the largest amount. C. the last unit of output produced adds the same amount to total revenue as to total cost. D. both a and b E. both a and c
A decrease in the price of coffee, other things being equal, causes a(n):
A. leftward shift in the demand curve for coffee. B. downward movement along the demand curve for coffee. C. rightward shift in the demand curve for coffee. D. upward movement along the demand curve for coffee.