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. The rent ceiling leads to a
A) shortage of 1000 apartments.
B) shortage of 2000 apartments.
C) surplus of 1000 apartments.
D) surplus of 2000 apartments.
B
Economics
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What will be an ideal response?
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A) 1933 B) 1971 C) 2001 D) 2009
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