Rent control
a. is an example of a price ceiling.
b. leads to a larger shortage of apartments in the long run than in the short run.
c. leads to lower rents and, in the long run, to lower-quality housing.
d. All of the above are correct.
d
Economics
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Which of the following will NOT shift the supply curve for pick-up trucks?
A) a technological advance B) an increase in the price of a resource used to produce pick-up trucks C) a change in the number of firms supplying pick-up trucks D) a change in the price of pick-up trucks
Economics
Consumer surplus is equal to the area
A) under the demand curve and above the supply curve. B) above the supply curve and below the price line. C) under the demand curve. D) under the supply curve. E) under the demand curve and above the price line.
Economics