In the figure above, originally the apartment rental market is in short-run and long-run equilibrium with a rent of $600 per month. Then the government imposes a rent ceiling of $500 per month
If the law is strictly enforced, the maximum for which an apartment will rent on the black market is A) less than $600 per month.
B) $600 per month.
C) $700 per month.
D) more than $700 per month.
C
Economics
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How do the following affect the equilibrium price in a market?
a. A leftward shift in demand b. A rightward shift in supply c. A large rightward shift in demand and a small rightward shift in supply d. A large leftward shift in supply and a small leftward shift in demand
Economics
We would expect the cross price elasticity of demand between digital cameras and film cameras to be positive
Indicate whether the statement is true or false
Economics