What Is the Difference Between a Rent Ceiling Set Below

question 303

Essay

What is the difference between a rent ceiling set below the equilibrium rent and a rent ceiling set above the equilibrium rent?

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Definitions:

Percent

A ratio or fraction out of 100 representing a part of a whole.

Cent

A monetary unit that is equal to one hundredth of the base unit of currency in many countries, such as the dollar or euro.

Accurate

The quality of being true, correct, or precise.

Cent

The smallest unit of currency in many countries, equal to 1/100 of the base unit.