Which of the Following Is a Result of Imposing a Rent

question 107

Multiple Choice

Which of the following is a result of imposing a rent ceiling?

• A)Some consumer surplus is converted to producer surplus.
• B)There is an increase in the quantity of apartments supplied.
• C)There is an increase in the quantity of apartments demanded.
• D)The marginal benefit of the last apartment rented is less than the marginal cost of supplying it.

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Definitions:

Supplies Expense

The cost incurred from the consumption of supplies that are used in the operations of a business.

Adjusting Entry

An accounting entry made at the end of a period to allocate income and expenditure to the appropriate accounting period.

Unearned Subscription Revenue

Unearned Subscription Revenue is income received by a company for goods or services yet to be provided, recorded as a liability on the balance sheet.

Subscription Revenue

Income generated from customers paying recurrent fees for access to a product or service over a period of time.