6.3 Controlling Prices-Maximum and Minimum Prices

question 88

Multiple Choice

6.3 Controlling Prices-Maximum and Minimum Prices

Figure 6.6
-Refer to Figure 6.6.Suppose that landlords could not charge the market equilibrium price of $500,but instead could charge no more than $400.As a result,the quantity of apartments rented will fall from 100 to 50.In this case consumer surplus will

• A) decrease.
• B) increase.
• C) stay the same.
• D) It is impossible to say.

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