Essay
Suppose that the demand for rental accommodation in Regina can be expressed as Yd = 3200- (4/3)P and supply of rental accommodation as Ys = - 3200+4P. if this is schedule and government imposes a rent ceiling of $1000 per month and the average opportunity cost of time in Regina is $24.00 per hour, approximately how long will the average person search for rental accommodation with a one year lease?
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At a price of $1000 per month, YS equals 8...View Answer
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