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With a Rent Ceiling Set Below the Equilibrium Rent, I

Question 45

Multiple Choice

With a rent ceiling set below the equilibrium rent, i. all renters are able to rent flats at a lower rent.
Ii) there is a shortage of flats.
Iii) the quantity of flats supplied does not change because buildings cannot be moved.


A) i only
B) ii only
C) iii only
D) ii and iii
E) i, ii and iii

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