Rent control creates the incentive for landlords to: a. not build and maintain more apartments. Ob. build and maintain more apartments. Oc. convert apartments into office space, which is not subject to rent control. O a and c Ob and c
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- 1. The cost of production is a major determinant of consumer demand. a. True O b. False4. Effects of Rent Control Rent controls force landlords to price property below the equilibrium price level. An effect of this is to create a shortage (excess demand) of rental property, as the quantity of rental property demanded is greater than the quantity supplied at that price. When legislation prevents landlords from charging market rents, what can happen in the long run as a result? Check all that apply O Non-price methods of rationing emerge. O The future supply of rental housing units increases. O Efficient use of housing space results. O Landlords earn lower profits from renting housing units, but the rent charged has no effect on either the quanbty or quality of rental units. Grade it Now Save & Continue Continue without savingDo 100 200 300 400 500 600 Quantity (thousonds of aportments per month) In the figure above, the initial demand curve is Do. There are no rent celilings nor rent floors. The equilibrium monthly rent is Select one: O a. $100 per month. O b. $200 per month. O c. $300 per month. O d. $400 per month. Rent (hundreds of dollars per month) 21
- An increase in product A's supply is likely to result from an O a. Increase in the price of product A. O b. Improvement in technology that lowers the cost of producing product A. c. Increase in the price of substitute product B. O d. Increase in the price of a factor of production used in the production of product A.202 -2021 Bahar A car retail store reduces prices by 15 percent each year until the cars are sold. What will a $190000 car sell for in 7 years? O A. $60709.60 O B. $60909.60 OC. $60609.60 O D. $60809.60 Seçimimi temizle Sonraki sayfaA 0. Number of cassette tapes per month Mark's budget constraint is AB. It would pivot to AC if the price of Select one: O a. CDs increased. O b. CDs decreased. O c. cassette tapes decreased. O d. cassette tapes increased. Number of CDs month per
- 5 enter your answer as whole numbers A. What is the market equilibrium rental price per month and the market equilibrium number of apartments demand and supplied? market equivalent rental price is: ______ per month B. If the local government can enforce a rental control law that sets the maximum monthly rent at $2250 will there be a surplus or a shortage? ______ Of how may units ______ apartments per month How many units will actually be rented each month? ________ apartments C. Suppose that a new government is elected that wants to keep out the poor. It declares that the minimum rent that can be charged is $3,250 per month. If the government can enforce that price floor will there be a surplus or a shortage? _______ Of how many units? _______ apartments per month how many units will actually be rented each month? _______ apartments  A numeraire good is O A) A good worth money O B) A good whose value is agreed upon O C) A good widely used in trade O D) A good in which the value of other goods is expressedK Figure 4.2.2 The Market for Robotic Rubber Ducks Price $40 $ 50 $ 60 $70 $ 80 $ 90 $100 Quantity Demanded OA 70,450 OB. 70: 350 OC. 50:450 OD. 50, 350 OE 60,400 500 450 400 350 300 250 200 Quantity Supplied 300 350 400 450 500 550 600 Look at Table 4.2.2. Consumers learn that rubber ducks wear out batteries quickly. As a result, demand decreases by 100 rubber ducks at each pnce. The new equum price nubber ducks the new equilibrium quantity is Tine Remaining 00:30-40 Nest
- Think back to a purchase that you made recently. How would you describe your thinking before you made that purchase?04. The maximum that buyers are willing to pay for the 8-th unit of this product is a) $2 b) $4 c) $8 d) $12By definition: a substitute is a good that: Select one: O a. has same likeness as another good O b. that is not used in place of another good O c. of lower quality than another good O d. of higher quality than another good