Use the Table Below to Answer the Following Questions

question 9

Multiple Choice

Use the table below to answer the following questions.
Table 6.1.1

-Refer to Table 6.1.1,which gives the demand schedule and the supply schedule for the apartment market in Anytown,Alberta.If a rent ceiling of $300 is imposed in the apartment market,then

• A)the maximum amount someone is willing to pay for an apartment in the black market is $500.
• B)there is a surplus of 40 apartments.
• C)the supply of apartments will increase.
• D)the demand for apartments will decrease.
• E)the quantity of apartments supplied is 60 units.

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Definitions:

Statements

Financial records that provide an overview of a company's financial condition, including the balance sheet, income statement, and cash flow statement.

Non-negativity Constraints

are mathematical conditions in linear programming that require the variables to be zero or positive, never negative.

Feasible Region

In optimization problems, the set of all possible points that satisfy the problem's constraints.

Linear Programming

A mathematical technique used to maximize or minimize a linear objective function, subject to linear equality and linear inequality constraints.