Why do rent controls cause deadweight losses?
a. fewer apartments are rented than in the competitive market
b. more apartments are rented than in the competitive market
c. tenants have to pay more than in the competitive market
d. landlords can charge more than in the competitive market
a. fewer apartments are rented than in the competitive market
Economics
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Recall the four types of goods. Are national defense and basic research the same type of good? Briefly explain
Economics
If the economy were producing at point F,
A. it would not be using its resources efficiently.
B. it would be in a recession.
C. it could gain units of guns without having to sacrifice units of butter.
D. it would specializing exclusively in butter production.
Economics