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marmech12 marmech12
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A year ago
Suppose the government imposes a price ceiling on rental housing that is below the market-clearing price. The resulting shortage will be

▸ greater the more recently the controlled price went into effect.

▸ smaller the longer the controlled price has been in effect.

▸ smaller the more elastic the demand for rental housing.

▸ diminished over time.

▸ greater the more elastic the demand for rental housing.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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lingo94lingo94
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A year ago
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