Use the Following to Answer Question

question 145

Multiple Choice

Use the following to answer question:
-(Table: Market for Apartments) Use Table: Market for Apartments.If a price ceiling of $900 is imposed on this market,the result will be an inefficiency in the form of a _____ million apartments.

• A)surplus of 0.6
• B)shortage of 0.6
• C)surplus of 0.2
• D)shortage of 0.2

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Definitions:

Customers

Individuals or entities that purchase goods or services from a company or business.

Managerial Accounting

The practice of analyzing, interpreting, and communicating financial information for internal use by management for decision making.

External Users

Individuals or entities outside a company who use financial information to make decisions about the company, such as investors, creditors, and regulatory agencies.

Internal Users

Individuals within an organization, such as management and employees, who use financial information to make decisions regarding the operation of the company.