Rent ceilings set below the equilibrium rent i. create a deadweight loss. ii. increase search activity. iii. result in a surplus of apartments
A) i only
B) ii only
C) i and iii
D) i and ii
E) i, ii, and iii
D
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In the absence of the negative externality from each individual's contribution to road congestion, roads would not be congested (aside from congestion caused by accidents).
Answer the following statement true (T) or false (F)
A financial contract in which a bank agrees to sell the expected future returns from an underlying bank loan to a third party is referred to as:
A) loan sale B) loan commitment C) credit rationing D) microlending
Which of the following statements is NOT compatible with explanations for why peak-load pricing is more profitable than charging a single price?
A) Consumer willingness to pay for the product varies a lot across different time periods. B) Marginal cost of production is much higher under peak demand. C) Marginal revenue changes a lot across different time periods. D) Marginal revenue must be the same across different time periods.
Which of the following best describes Producer Surplus?
(a) The price suppliers are willing to sell a good for. (b) The profits made by a firm. (c) The difference between what a consumer is willing to pay for a good and what they actually pay. (d) The difference between what a producer is willing to sell a good for and what they actually sellthe good for.