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Figure 4.5 Price (dollars per month) $2,300 Supply 2,000 1 ,500 1,000 600 Demand O 200 300 500 Quantity (apartments) Figure 4.5 shows the market
Figure 4.5 Price (dollars per month) $2,300 Supply 2,000 1 ,500 1,000 600 Demand O 200 300 500 Quantity (apartments) Figure 4.5 shows the market for apartments in Springfield. Recently, the government imposed a rent ceiling of $1,000 per month. 6) Refer to Figure 4.5. What is the value of the portion of producer surplus transferred to consumers as a result of the rent ceiling? 6) A) $40,000 B) $140,000 C) $125,000 D) $100,000 Show calculation: + 3 7 14 View as Text Dow
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