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Suppose the equilibrium rent in Boston is $1,500. A rent ceiling of $1,600 per month leads to

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Suppose the equilibrium rent in Boston is $1,500. A rent ceiling of $1,600 per month leads to

Suppose the equilibrium rent in Boston is $1,500. A rent ceiling of $1,600 per month leads to
A) a surplus of apartments in Boston.
B) a shortage of apartments in Boston.
C) no change in the Boston apartment market.
D) fair prices in the Boston apartment market.
E) compared to the situation at the equilibrium rent, a decrease in the quantity of apartments demanded and an increase in the quantity of apartments supplied.

Textbook

Essential Foundations of Economics

Edition: 7^th

Authors: Bade, Parkin

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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.

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Sydnie

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8 years ago

I was confident with my answer, glad it was correct.

Oh, and thumbs-up are more than welcome Slight Smile

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bellaupdy

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3 years ago

thanks

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