1. The effects of rent control in the long run include lower rents and lower-quality housing. True or False 2. Price ceilings are never binding when set above the equilibrium price. True False 3. A tax on buyers usually causes buyers to pay more for the good and sellers to receive less for the good than they did before the tax was levied. True False

1. The effects of rent control in the long run include lower rents and lower-quality housing. True or False 2. Price ceilings are never binding when set above the equilibrium price. True False 3. A tax on buyers usually causes buyers to pay more for the good and sellers to receive less for the good than they did before the tax was levied. True False

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter6: Supply, Demand And Government Policies

Section: Chapter Questions

Problem 6CQQ

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