Question: Explore the market with a rent ceiling and then answer the question. How does raising the rent ceting from $300 to $400 a month change

Explore the market with a rent ceiling and then answer the question. How does raising the rent ceting from $300 to $400 a month change the search costs and illicit-market rents? Raising the rent ceiling A Explore it 6.12 Microhigh Edge X A. decreases search costs but not licit-market rents https://bim.pearsoncmg.com/econ/pbs01/ch06/ge060102/1 O B, lowers illicit-market rents but not search costs Rent (dollars per month) O C. decreases both search costs and illicit-market rents 1.000 O D. increases both search costs and illicit-market rents Range of 800 Illicit market Illegal rents or region search cost Willing Rent to pay ceiling 40 D 200 Quantity of housing available 0 8 Quantity (thousands of units)

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