Rent Control Policies Tend to Cause

question 37

Multiple Choice

Rent control policies tend to cause

• A)relatively smaller shortages in the short run than in the long run because supply and demand tends to be more elastic in the short run than in the long run.
• B)relatively larger shortages in the short run than in the long run because supply and demand tends to be more elastic in the short run than in the long run.
• C)relatively larger shortages in the short run than in the long run because supply and demand tends to be more inelastic in the short run than in the long run.
• D)relatively smaller shortages in the short run than in the long run because supply and demand tends to be more inelastic in the short run than in the long run.

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Definitions:

Pigs

Domesticated animals farmed for their meat (pork), as well as their skin, bristles, and other parts.

Cattle

domesticated bovine animals kept for milk, meat, or as draught animals.

Sugar Production

The process of growing sugar crops, particularly sugarcane and sugar beet, and extracting sugar for consumption and commercial use.

South American Country

Any sovereign state located on the continent of South America.