-In the Figure Above, the Demand Curve Shifts Rightward from D₀

question 244

Multiple Choice

-In the figure above, the demand curve shifts rightward from D₀ to D₁. There are no rent controls. In the short run, the increase in demand results in

• A) higher rents and a decrease in the equilibrium quantity.
• B) lower rents and a decrease in the equilibrium quantity.
• C) higher rents and an increase in the equilibrium quantity.
• D) lower rents and an increase in the equilibrium quantity.

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