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question 53

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Use the following to answer questions:
Figure: Rent Controls Use the following to answer questions: Figure: Rent Controls   -(Figure: Rent Controls)  Look at the figure Rent Controls. If rent controls are set at Rent<sub>0</sub>: A)  the shortage of rental units is the distance Q<sub>1</sub> - Q<sub>3</sub>. B)  some renters will be willing to pay a price as high as Rent<sub>4</sub> for Q<sub>0</sub> units. C)  no one will have to pay a higher actual price than Rent<sub>0</sub>, nor will anyone be willing to do so. D)  there will be a surplus of rental units.
-(Figure: Rent Controls) Look at the figure Rent Controls. If rent controls are set at Rent0:


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