Suppose the market clearing rent is $500 per month, but a rent control is established at $400 per month. Which is most likely to emerge?
A) The demand for apartments would increase.
B) The supply of apartments would increase.
C) The scarcity of apartments would decrease.
D) The quantity of apartments demanded would exceed quantity supplied.
D
Economics
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Because the monopolistically competitive firm faces a ________ demand curve for its product, it ________ the price of its output
A) downward-sloping; can influence B) horizontal; can influence C) horizontal; cannot influence D) downward-sloping; cannot influence
Economics
The World Bank defines severe poverty as
A. An income level of less than $3.10 per person per day. B. An income level that does not allow an individual to buy basic necessities. C. An income level of less than $1.25 per person per day. D. An extreme lack of food.
Economics