Rent controls
a. Is an example of price floors
b. Is an example of price ceilings
c. Destroy wealth by preventing the movement of apartments to higher-valued use.
d. Both b and c
d
Economics
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Indicate whether the statement is true or false
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Economic profit is defined as
a. total revenue minus implicit costs b. total revenue plus explicit costs c. total revenue plus implicit costs d. wages plus interest minus rent e. total revenue minus implicit and explicit costs
Economics