The table above gives the demand and supply schedules for the housing market in a small town. If a rent ceiling of $200 a month is imposed, what is the quantity demanded, the quantity supplied, and the shortage of housing?
What will be an ideal response?
The quantity demanded is 350 units, the quantity supplied is 150 units, and the shortage is 200 units.
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Many people believe that the incentive arguments for redistribution are irrelevant, and that the wealthy simply have a __________.
a. lot more money than they can ever use b. moral obligation to provide for the less fortunate c. birth right that made them wealthy through no efforts of their own
The figure shows the market for college education. In order for the efficient amount of education to occur, the government could provide a subsidy of ________ per student
A) $4,000 B) $8,000 C) $12,000 D) $20,000 E) $16,000
The Clayton Act of 1914 was passed to prohibit, in part, price discrimination if the effect is to substantially lessen competition or create monopoly
Indicate whether the statement is true or false
Which of the following is not a result we would expect to result from a tariff on leather shoes? a. The price of leather shoes in the U.S. would increase
b. The amount of shoes imported into the U.S. would decline. c. Fewer pairs of shoes would be sold in the U.S. d. Domestic producers would sell fewer shoes at the higher prices.