-In the Figure Above, the Demand Curve Shifts Rightward from D₀

question 27

Multiple Choice

-In the figure above, the demand curve shifts rightward from D₀ to D₁ so that D₁ is the relevant demand curve. Suppose the government imposes a rent ceiling of $500 per month. In the short run there will be

• A) a surplus of apartments.
• B) a shortage of 200,000 apartments.
• C) a shortage of 300,000 apartments.
• D) neither a shortage nor a surplus of apartments.

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Definitions:

Pericardial

Related to the pericardium, the membranous sac enclosing the heart and the roots of the great vessels.

Mediastinum

An anatomical region in the chest situated between the lungs, containing the heart, thymus, parts of the esophagus, and trachea.

Umbilical Region

The umbilical region is the area surrounding the umbilicus (navel), centrally located in the abdominal region.

Hypogastric Region

The lower central part of the abdomen located beneath the umbilical region and above the pelvic brim.