In a housing market with a rent ceiling set below the equilibrium rent, as time passes the supply of apartments
A) decreases.
B) increases.
C) does not change.
D) becomes fixed by the government.
E) increases while the demand for apartments decreases.
A
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Using only marginal revenue and marginal cost, we can determine whether a firm is incurring a profit or a loss
a. True b. False Indicate whether the statement is true or false
In the equation for the production function H/L represents
a. natural resources per worker. b. human capital per worker. c. output per worker. d. physical capital per worker.
Exhibit 8-12 Marginal revenue and cost per unit curves
As shown in Exhibit 8-12, the firm's short-run supply curve is the:
A. entire marginal cost curve. B. rising part of marginal cost beginning at E. C. rising part of marginal cost beginning at F. D. entire marginal revenue curve.
Suppose that the percentage change in demand is 10%, the price elasticity of demand is 2, and the price elasticity of supply is 2. The equilibrium price will:
A. decrease by 2.5 percent. B. increase by 40 percent. C. increase by 2.5 percent. D. decrease by 40 percent.