Rent Control Policies Tend to Cause

question 56

Multiple Choice

Rent control policies tend to cause

• A) relatively smaller shortages in the short run than in the long run because supply and demand tend to be more elastic in the short run than in the long run.
• B) relatively larger shortages in the short run than in the long run because supply and demand tend to be more elastic in the short run than in the long run.
• C) relatively larger shortages in the short run than in the long run because supply and demand tend to be more inelastic in the short run than in the long run.
• D) relatively smaller shortages in the short run than in the long run because supply and demand tend to be more inelastic in the short run than in the long run.

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Definitions:

Increased Slightly

Indicates a minor or modest rise in quantity, degree, or level of a particular measure or condition.

Decreased Slightly

A small reduction or decline in quantity, intensity, or magnitude.

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