Question: For each question, select the best answer. Explain concisely why it is the best answer. Credit is given for the reasons, not just the correct

For each question, select the best answer. Explain concisely why it is the best answer. Credit is given for the reasons, not just the correct answer.

1. The strongest case for a rent ceiling via rent control is when . . .

A. Demand is inelastic because the rent ceiling may even increase supply.

B. Supply is elastic because the rent ceiling will increase the elastic supply.

C. When prices are high because then landlords are taking advantage of renters.

D. None of the above

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