economics for busines

Rent per unit ($) 750 600 450 300 Maximum/Price Ceiling 150 0 20 40 60 80 100 Quantity of rental units per period The model applies to the rental of units where the Government has mandated a maximum/price ceiling of $300 per week. Which statements below do you agree with? Marks will be deducted for wrong answers. Select one or more: O a. Landlords are not allowed to charge above $300 for rental. O b. Landlords are not allowed to charge below $300 for rental. c. If landlords abide by the rental ceiling, then Q exceeds Q and many tenants will not be able to secure a rental unit. ) d. If landlords abide by the rental ceiling, then the market will be at equilibrium. e. Even though rental ceiling is $300, some landlords may ask a higher rental and some tenants will agree to the higher rental. This of course is breaking the law. Which statements do you agree with? Marks will be deducted for wrong answers. Select one or more: a. When Governments set a price ceiling or price floor in a given market, it creates disequilibrium where Q, and Q are not equal. b. When Q >QS (shortage) the given market is not producing enough - it is under utilizing the community's resources. c. When Qs > Qp (surplus) the given market is producing more than it should - it is over utilizing the community's resources