Suppose the Equilibrium Rent in Denver Is $1,050

question 26

Multiple Choice

Suppose the equilibrium rent in Denver is $1,050.A rent ceiling of $755 per month leads to

• A) a surplus of apartments in Denver.
• B) a shortage of apartments in Denver.
• C) no change in the Denver apartment market.
• D) fair prices in the Denver market.
• E) compared to the situation at the equilibrium rent, a decrease in the quantity of apartments demanded and an increase in the quantity of apartments supplied.

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