With a Rent Ceiling Set Below the Equilibrium Rent, I

question 45

Multiple Choice

With a rent ceiling set below the equilibrium rent, i. all renters are able to rent flats at a lower rent.
Ii) there is a shortage of flats.
Iii) the quantity of flats supplied does not change because buildings cannot be moved.

• A) i only
• B) ii only
• C) iii only
• D) ii and iii
• E) i, ii and iii

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