Which of the Following Is an Example of the Unfairness

question 88

Multiple Choice

Which of the following is an example of the unfairness of rent control?

• A) Voluntary exchange is encouraged by rent control.
• B) Racial discrimination in renting is discouraged by rent control.
• C) Newcomers have a more difficult time finding apartments.
• D) Rich people do not get apartments in these markets.
• E) Too many people rent apartments.

Analyze the implications of input prices on production cost using isocost lines.

Recognize the conditions for minimum cost output in the context of isocost and isoquant lines.

Interpret the construction and significance of expansion paths in long-run production decisions.

Distinguish between short-run and long-run costs, including variable and fixed costs.

---

Definitions:

Sales

The total revenue earned from the selling of goods or services, before any deductions are made.

Charge Customer

To bill a customer for goods or services provided, thereby creating an account receivable.

Cash Discount

A deduction from the invoice price that is allowed if payment is made within a specified period.

Credit

An accounting entry recording an increase in liabilities or equity or a decrease in assets, opposite of a debit.