Multiple Choice
The diagram below shows the market for apartments in a city. Assume that all apartments are identical. 
FIGURE 5- 4
-Refer to Figure 5- 4. Suppose the government sets a rent ceiling at Price B, $900. In this situation, if all apartments are rented on the black market, then the rent for an apartment is
A) any rent above $900.
B) any rent below $600.
C) $900.
D) $600.
E) the same as the free- market equilibrium rental price.
Correct Answer:
Verified
Correct Answer:
Verified
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