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# Figure 4-5 Price (dollars per month \$2,500 2.000 Demand 0 200400 800 Quantity (apartments) Figure 4-5...

## Question

###### Figure 4-5 Price (dollars per month \$2,500 2.000 Demand 0 200400 800 Quantity (apartments) Figure 4-5... Figure 4-5 Price (dollars per month \$2,500 2.000 Demand 0 200400 800 Quantity (apartments) Figure 4-5 shows the market for apartments in Springfield. Recently, the government imposed a rent ceiling of \$1.000 per month. 2) 2) Refer to Figure 4-5. Suppose that instead of a rent ceiling, the government imposed a price floor of 12,000 per month for apartments. What is the quantity of apartments demanded at the new price? B) 200 C) 300 D) 500 A) 3) Refer to Figure 4-5. What is the value of consumer surplus after the imposition of the ceiling? A) \$200,000 B) \$250,000 C) \$300,000 D) \$400.000 the market price is equal to the total 4) The area the market supply curve and amount of producer Surplus in a market. A) below; below B) below; above C) above below D) above above

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