Figure: Short and Long Run Shortages Use the Figure

question 1

Multiple Choice

Figure: Short and Long Run Shortages Use the figure.At a rent-controlled price of $800,the short-run shortage of apartments is ________ and the long-run shortage is ________.

• A) 12,000;4,000
• B) 4,000;12,000
• C) 8,000;4,000
• D) 8,000;12,000

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