In the Market Equilibrium,with a Price of $500 There Are

question 28

Multiple Choice

In the market equilibrium,with a price of $500 there are 2,000 apartments.If the government decides to enact a rent control policy,with a maximum price of $400,it reduces the quantity to 1,500 apartments.Due to the rent control decreasing the total surplus of the market,the policy generates a(n)

• A) excess supply.
• B) equilibrium.
• C) higher price.
• D) deadweight loss.

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