-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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