Rent control leads to quantity supplied being ________ quantity demanded.
A. equal to
B. greater than
C. less than
D. Either equal to or greater than is correct.
Answer: C
You might also like to view...
The real interest rate is 4 percent a year. When the inflation rate is zero, the nominal interest rate is approximately ________ percent a year; and when the inflation rate is 2 percent a year, the nominal interest rate is approximately ________
percent a year. A) 0; 2 B) 4; 6 C) 6; 8 D) 6; 4
An assumption behind the infant industry argument for tariff protection is that
A) foreign competitors are selling output below average cost. B) the domestic industry will be facing an upward adjustment in its average cost. C) the domestic industry will eventually gain comparative advantage in producing the good. D) the market needs additional competition to satisfy consumer demand.
The marginal benefit of the pollution abatement curve
A) has a zero slope. B) has a positive slope. C) slopes upward. D) slopes downward.
Which of the following is a correct representation of the profit maximization condition for a monopoly?
A. MC = MR B. P = ATC + MR C. P = MR D. MR = MC + ATC