Which of the following is the most likely result of a rent control law that creates a binding price ceiling? A shortage of rentable homes. A surplus of rentable homes. The quality of rental homes will increase. All people will be able to rent a home.

Which of the following is the most likely result of a rent control law that creates a binding price ceiling? A shortage of rentable homes. A surplus of rentable homes. The quality of rental homes will increase. All people will be able to rent a home.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter3: Market Demand And Supply

Section3.A: Consumer Surplus, Proudcer Suplus, And Market Efficency

Problem 1SQ

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Which of the following is the most likely result of a rent control law that creates a binding price ceiling?

A shortage of rentable homes.

A surplus of rentable homes.

The quality of rental homes will increase.

All people will be able to rent a home.

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Which of the following is the most likely result of a rent control law that creates a binding price ceiling? A) The quality of rental homes will increase. B) A surplus of rentable homes C) All people will be able to rent a home. D) A shortage of rentable homes
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