In a free market for rental housing, effective rent control would have which effect?
a. It would cause a reduction in the number of apartments.
b. It would cause an increase in the number of apartments, since landlords would try to increase their profits through larger scale.
c. It would have no effect on the number of apartments offered in the market.
d. The results are impossible to predict.
a
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Which of the following statements is TRUE?
A) Free trade is beneficial only if your country is strong enough to stand up to foreign competition. B) Free trade is beneficial only if your competitor does not pay unreasonably low wages. C) Free trade is beneficial only if both countries have access to the same technology. D) Free trade is never beneficial for developing countries. E) Free trade can be beneficial to economic welfare of all countries involved.
Economists believe mergers can sometimes achieve greater efficiency than two companies that do not merge.
Answer the following statement true (T) or false (F)
Define the following terms and explain their importance to the study of economics. a. Principle of marginal productivity b. Marginal physical product c. Marginal revenue product d. Derived demand e. Economic rent
What will be an ideal response?
A firm in a competitive input market can
A. hire additional workers only after a long search process. B. hire workers at the going wage. C. hire additional workers only by raising wages. D. hire additional workers at lower wages because those who are still unemployed are anxious to work.