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

question 162

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 the quantity of housing supplied is ________ units,the quantity demanded is ________ units,and the quantity rented is ________ units.

• A) 3,000; 6,000; 3,000
• B) 3,000; 6,000; 6,000
• C) 3,000; 6,000; 4,000
• D) 3,000; 3,000; 3,000
• E) 4,000; 4,000; 4,000

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Definitions:

Specialization

The process of focusing efforts on a specific activity, product, or service to gain efficiency or quality improvements.

Economically Beneficial

Describes actions, policies, or activities that result in a positive impact on economic well-being, efficiency, or growth.

Fixed Amounts

Quantities that remain constant and do not change over time, regardless of any external conditions or variables.

Consumer Desire

The willingness and preference of consumers to purchase goods and services.