subject
Business, 06.05.2020 03:05 simegustachocolate

Your local government is concerned about the lack of affordable apartments in the area. To combat the problem it proposes to set the legal maximum rent on 1 bedroom apartments at $300 per month.

You are asked to confirm whether or not this policy will solve the problem. You estimate that the inverse market demand is:

p = 1200 - 2 Q

and the inverse market supply is:
p = Q.

You argue that this policy will cause an excess supply excess demand of nothing units per month (enter your answer as a whole number). Further, you calculate that some consumers would be willing to pay as much as $ nothing a month for an apartment (round your answer to the nearest penny). You conclude that there will be a deadweight loss of $ nothing per month (round your answer to the nearest penny and enter the deadweight loss as a positive number). You add that your calculation of the welfare loss underestimates overestimates the actual loss.

ansver
Answers: 2

Other questions on the subject: Business

image
Business, 22.06.2019 08:00, champ1135
Why is it vital to maintain a designer worksheet? a. it separates the designs chosen for the season from those rejected by the company. b. it keeps a record of all designs created by the designer for a season. c. it charts out the development of an entire line through the season and beyond. d. it tracks the development of a design along with costing and production details. done
Answers: 1
image
Business, 22.06.2019 11:40, avagracegirlp17zx2
On january 1, 2017, sophie's sunlounge owned 4 tanning beds valued at $20,000. during 2017, sophie's bought 3 new beds at a total cost of $14 comma 000, and at the end of the year the market value of all of sophie's beds was $24 comma 000. what was sophie's net investment
Answers: 3
image
Business, 22.06.2019 15:10, emilee30
You want to have $80,000 in your savings account 11 years from now, and you’re prepared to make equal annual deposits into the account at the end of each year. if the account pays 6.30 percent interest, what amount must you deposit each year? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)
Answers: 1
image
Business, 22.06.2019 19:00, whitbol
The demand curve determines equilibrium price in a market. is a graphical representation of the relationship between price and quantity demanded. depicts the relationship between production costs and output. is a graphical representation of the relationship between price and quantity supplied.
Answers: 1
You know the right answer?
Your local government is concerned about the lack of affordable apartments in the area. To combat th...

Questions in other subjects:

Konu
Mathematics, 14.07.2020 23:01
Konu
Mathematics, 14.07.2020 23:01
Konu
Mathematics, 14.07.2020 23:01