Assuming That the Long- Run Supply of Housing Is More

Multiple Choice

Assuming that the long- run supply of housing is more _ than the short- run supply, the imposition of binding rent controls will generally .

A) elastic; lead to only a temporary housing shortage
B) elastic; lead the price of rental housing to revert back to its equilibrium level
C) elastic; lead to a worsening of the housing shortage over time
D) inelastic; lead to no significant change in the housing shortage
E) inelastic; lead to a reduction in the housing shortage over time