The Shortage of Housing That Exists in the Presence of Binding

Multiple Choice

The shortage of housing that exists in the presence of binding rent controls is smaller

A) the longer is the length of time the rent controls are in place.
B) the higher is the elasticity of demand for housing.
C) the more elastic is the long- run supply of housing.
D) the lower is the elasticity of supply of housing.
E) the greater is the difference between the equilibrium price and the rent- controlled price.