The degree to which rent controls affect the market for apartments depends on
A. the number of years the rent control law has been in effect.
B. the rules given within the law for rent increases.
C. the intent of the lawmakers.
D. both A) and B)
Answer: D
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What will be an ideal response?
In the short run, each perfectly competitive firm is free to
a. increase its plant size. b. increase its volume of output up to its maximum existing capacity. c. charge a price above the market price. d. do all of these.
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