Suppose that the city of Rentville sets a price ceiling of $800 a month on all apartments, although the market equilibrium rent is $1,000. Which of the following is least likely to occur? a) An increase in the quantity of existing apartments in Rentville. b) A decrease in new apartments being built in Rentville. c) A shortage of apartments in Rentville. d) An excess of quantity demanded over quantity supplied in the market for apartments.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Suppose that the city of Rentville sets a price ceiling of $800 a month on all apartments, although the market equilibrium rent is $1,000. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
C Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 21,920 hours and the total estimated manufacturing overhead was $526,080.
Answers (1)
In a laissez-faire economic system: A. government's role includes planning the economy's output. B. the government owns most nonhuman productive resources. C.
Answers (1)
CornProducts Corp. ended the year 2018 with an average collection period of 40 days. The firm's credit sales for 2018 were $9 million. What is the approximate year-end 2018 balance in accounts receivable for Corn Products?
Answers (1)
Shantel owned and lived in a home for five years before marrying Daron. Shantel and Daron lived in the home for two years before selling it at a $700,000 gain. Shantel was the sole owner of the residence until it was sold.
Answers (1)
Griffith Manufacturing ships 40 crates of goods by Trusty Shipping, a common carrier. Trusty offers Griffith a shipping rate of $725 for a limited liability of $5,000 or a rate of $975 for full liability for any harm to the goods.
Answers (1)
New Questions in Business
The pre-tax cost of debt for a firm: is based on the yield to maturity on the firm's outstanding bonds. is equal to the coupon rate for the latest bond issue. is equivalent to the current yield on the outstanding bonds of the firm.
Answers (1)
Macy Corporation's relevant range of activity is 8,100 units to 16,500 units. When it produces and sells 12,300 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $ 5.50 Direct labor $ 3.
Answers (1)
ABC Co. expects to sell 2,200 units, give or take 10 percent. The expected variable cost per unit is $8.43 and the expected fixed costs are $9,500. Cost estimates are considered accurate within a plus or minus 5 percent range.
Answers (1)
Values are beliefs you are born with.
Answers (1)
Would primary markets exist witout secondary markets?
Answers (1)