A Rent Ceiling on Housing Creates a Problem of Allocating

question 148

Multiple Choice

A rent ceiling on housing creates a problem of allocating the available housing units because

• A) the demand for housing decreases and the demand curve shifts leftward.
• B) the supply of housing increases and the supply curve shifts rightward.
• C) a shortage of apartments occurs.
• D) a surplus of apartments occurs.
• E) it eliminates search, which is one of the major ways housing units are allocated.

---

Definitions:

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values, indicating how much the numbers in a dataset differ from the mean or average.

Corporate Rate

A specially negotiated price for services, typically offered to businesses or organizations for their employees or members.

Revenue Management

An economic strategy to optimize income by predicting consumer behavior at the micro-market levels and adjusting product availability and price.

Goods Combinations

The mix of different products or services that a company offers, taking into account how different items complement or substitute for one another.