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Figure 5-1 is a supply and demand curve, which shows rent controls. On the y axis is rent per period. On the x axis is
Figure 5-1 is a supply and demand curve, which shows rent controls. On the y axis is rent per period. On the x axis is quantity of rental units per period. The supply and demand curve intersect at rent 2 on the y axis and q2 on x axis, to the left of q2 is q1 and q0 moving towards 0 on x axis and to the right of q2 is points q3 and then q4, which is going further along the x axis. Below rent 2 on the y axis is rent 1 and then rent 0, which is closer to the 0 point of the y axis. And then above rent 2 is rent 3 and then rent 4, going up the y axis. Reference: Ref 5-1 Figure: Rent Controls (Figure: Rent Controls) Use Figure: Rent Controls. Without rent controls, the equilibrium rent is: Question 19 options: Rent2. Rent1. Rent3. Rent4
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