Which Is the MOST Correct Statement About the Impact of Rent

question 104

Multiple Choice

Which is the MOST correct statement about the impact of rent controls?

• A) The short-run supply curve for apartments is inelastic, so rent controls create larger shortages in the short run than in the long run.
• B) The short-run supply curve for apartments is inelastic, so rent controls create smaller shortages in the short run than in the long run.
• C) The long-run supply curve for apartments is inelastic, so rent controls create larger shortages in the long run than in the short run.
• D) The long-run supply curve for apartments is inelastic, so rent controls create smaller shortages in the long run than in the short run.

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Definitions:

Probability Distribution

A mathematical representation that enumerates all possible values and the likelihood of each for a random variable within a determined boundary.

Coefficient Of Correlation

A statistical measure that calculates the strength and direction of the relationship between two variables.

Probability Distribution

A numerical function indicating all likely outcomes and their associated probabilities for a random variable across a designated range.