If the Supply Curve for Housing Has the Normal Positive

question 40

Multiple Choice

If the supply curve for housing has the normal positive slope, what is the likely outcome of rent controls?

• A) help for low-income families to find suitable housing
• B) an increase in the quantity of available housing
• C) the creation of a larger shortage than if the supply curve was vertical
• D) an improvement in the quality of available housing

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Definitions:

3-sigma Range Chart

A statistical chart used in quality control that illustrates the variation of a process within three standard deviations (3-sigma) from the mean, identifying outliers.

Average Range

In statistics, it is the mean difference between the largest and smallest values in a set of data, used as a measure of statistical dispersion.

3-sigma Control Limits

Statistical boundaries set at three standard deviations from the mean in a control chart, used to determine the variability of a process and identify potential outliers or trends.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values.