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The Diagram Below Shows the Market for Apartments in a City

question 79

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The diagram below shows the market for apartments in a city. Assume that all apartments are identical. The diagram below shows the market for apartments in a city. Assume that all apartments are identical.   FIGURE 5- 4 -Refer to Figure 5- 4. Suppose the government sets a rent ceiling at Price B, $900. In this situation, if all apartments are rented on the black market, then the rent for an apartment is A)  any rent above $900. B)  any rent below $600. C)  $900. D)  $600. E)  the same as the free- market equilibrium rental price. FIGURE 5- 4
-Refer to Figure 5- 4. Suppose the government sets a rent ceiling at Price B, $900. In this situation, if all apartments are rented on the black market, then the rent for an apartment is


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