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The diagram shows the market for apartments in a city

Economics

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The diagram shows the market for apartments in a city. Assume that all apartments are identical. 1400, 1300- Suppose the government sets a rent ceiling at Price B, $900. In this situation, if all apartments are rented on the black market, then the rent for an apartment is 1200- 1100- 51 A. $600. B. $900. 1000- Price B 900+ S2 C. the same as the free-market equilibrium rental price. Price (dollars per month) 800- D. any rent above $900. O E. any rent below $600. 700- Price A 600- " 500- 400- Demand 300- O 200 400 600 800 1000 1200 1400 1600 Quantity of apartments