a. What are the equilibrium rent and equilibrium quantity of rental housing? b. If a rent ceiling
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b. If a rent ceiling is set at $600 a month, what is the quantity of housing rented and what is the shortage of housing?
Use Figure 6.1, which shows the market for rental housing in Townsville
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a The equilibrium rent is 450 a month and the equilibrium quantity is 20000 housing units b The qu...View the full answer
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