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8. A city has decided to impose rent controls, and it has established a rent ceiling below the previous equilibrium rental rate for offices throughout

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8. A city has decided to impose rent controls, and it has established a rent ceiling below the previous equilibrium rental rate for offices throughout the city. How will the quantity of offices leased by building owners change? (5 points). Explain what will happen to the equilibrium price and quantity of hybrid automobiles if there are technological advancements in the production of hybrid automobiles while at the same time consumer preference for hybrid automobiles increases. (5 points). 10. Explain what would happen to the equilibrium price and quantity of pineapples if the supply of pineapples decreased while the demand for pineapples increased. (5 points) 11. Does the phase "unlimited wants and limited resources" apply to both a low-income household and middle-income household? Can the same phase be applied to a very high-income household? (5 points) 12. Write a sentence contrasting positive and normative economics (5 points). 13. Using only the concept of comparative advantage, evaluate the statement "A professor with a PhD in physics should never mow his lawn, because this would fail to consider the professor's comparative advantage. (5 points) 14. Your roommate is a better cook than you are, but you could clean better more quickly than your roommate can. If your roommate did all the cooking and you did all the cleaning, would your chores take more of less time than if you divided each task evenly? Give a similar example of how specialization and trade can make two countries both better off? (5 points)

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