The long-run effect of rent control on an area includes
A) rampant building of new low-income housing.
B) many new luxury apartments new luxury apartments will be built.
C) new investors into the real estate market in the area.
D) less investment into the real estate market in the area.
Answer: D
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The method of constructing a measure of technological progress relies on which of the following assumptions?
A) each factor of production is paid its marginal product B) population growth does not change C) population growth is zero D) the saving rate does note change
Consider a firm with the following cost information: ATC = $15, AVC = $12, and MC = $14 . If we know that this firm has decided to produce Q = 20 by following the rule to maximize profits or minimize losses, then the price of the output is
a. $12 b. $14 c. $15 d. $20 e. indeterminate from the information given