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Consider Figure 1 below: Supply 3,000 2,000 1,000 600 Demand 100 300 600 Q Figure 1: Rent Control Suppose the government passes a law that limits the monthly rent for an average 800 square foot apartment in Montreal to be $600. The ASS because of this rent control policy is - $140,000 O b. - $40,000 O c. $300,000 O d -$100.000

Consider Figure 1 below: Supply 3,000 2,000 1,000 600 Demand 100 300 600 Q Figure 1: Rent Control Suppose the government passes a law that limits the monthly rent for an average 800 square foot apartment in Montreal to be $600. The ASS because of this rent control policy is - $140,000 O b. - $40,000 O c. $300,000 O d -$100.000

Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Consumers, Producers, And The Efficiency Of Markets
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Consider Figure 1 below: Supply 3,000 2,000 1000 600 Demand 100 300 600 Figure 1: Rent Control Suppose the government passes a law that limits the monthly rent for an average 800 square foot apartment in Montreal to be $600. The ASS because of this rent control policy is O a. - $140,000 O b. - $40,000 O c. $300,000 O d. - $100,000
Transcribed Image Text:Consider Figure 1 below: Supply 3,000 2,000 1000 600 Demand 100 300 600 Figure 1: Rent Control Suppose the government passes a law that limits the monthly rent for an average 800 square foot apartment in Montreal to be $600. The ASS because of this rent control policy is O a. - $140,000 O b. - $40,000 O c. $300,000 O d. - $100,000
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