The Figure Above Shows the Supply and Demand Curves in the Market

question 9

Multiple Choice

The figure above shows the supply and demand curves in the market for rental housing. A rent ceiling is set at $400 per month.
-In the figure above,with the rent ceiling

• A) there is a shortage of 3,000 units.
• B) there is a surplus of 3,000 units.
• C) there is a surplus of 2,000 units.
• D) there is a shortage of 1,000 units.
• E) the market is in equilibrium.

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Definitions:

M Cones

Photoreceptor cells in the retina specialized for medium-wavelength light, contributing to color vision and perception of green hues.

S Cones

A type of photoreceptor in the eye that is sensitive to short wavelength light, contributing to color vision.

Cones

Photoreceptor cells in the retina of the eye that are responsible for color vision and function best in relatively bright light.

Rods

Photoreceptor cells in the retina of the eye that are sensitive to low light levels and provide black-and-white vision.