What is an unintended consequence when government sets a price control on rental apartments?
A) Because prices are set below market clearing price, suppliers will rent more apartments causing a housing surplus.
B) Because prices are set above market clearing price, suppliers will rent fewer apartments causing a housing surplus.
C) Because prices are set below market clearing price, suppliers will rent fewer apartments causing a housing shortage.
D) Because prices are set above market clearing price, suppliers will rent fewer apartments causing a housing shortage.

Explanation: When the government sets a maximum price, it results in a shortage. In New York City, a rent control system that dates back. As a result, highly sought after apartments can be rented for cheap prices.

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Logiciskey Logiciskey · Answer 2 · 2019-12-10T15:50:09+01:00

Logiciskey Logiciskey

10-12-2019

Answer:

The correct answer is C. Because prices are set below market clearing price, suppliers will rent fewer apartments causing a housing shortage.

Explanation:

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