Which of the following is not a short-run effect of rent control on the housing market?
a. reduced rents
b. a large shortage
c. a small increase in quantity demanded
d. a small decrease in quantity supplied
b
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Suppose the figure below shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist. The profit-maximizing price for this monopolist to charge is:
A. A. B. C. C. B. D. E.
Which of the following is a consequence of free riders?
A. The government always steps in to produce the good or service. B. The good or service is produced regardless. C. The good or service is never produced because not enough people paid to use it. D. Consumers are better off by not having the good or service be produced.
A landlord will supply his or her land for rental only if in equilibrium
A. he or she receives economic rent on the land. B. he or she is paid at least the opportunity cost of using the land himself or herself. C. his or her land is marginal. D. his or her rate of return on his or her investment in the land is zero.
In the macroeconomics long run...
What will be an ideal response?