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. Now suppose that demand increases
The increase in demand results in the quantity supplied A) increasing.
B) staying the same.
C) decreasing.
D) increasing, staying the same, or decreasing depending on how much demand increases.
B
Economics
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Once a monopoly has determined how much it produces, it will charge a price that
A) is determined by the intersection of the marginal cost and average total cost curves. B) minimizes marginal cost. C) is determined by its demand curve. D) is independent of the amount produced. E) is equal to its average total cost.
Economics
How is the wage rate determined when a union faces a monopsony?
What will be an ideal response?
Economics