(GRAPH each question, starting with equilibrium and then showing the shortage or surplus)

1. Can you explain the practice of scalping tickets for major sporting events in terms of market shortages? How else might tickets be distributed?

2. If rent controls are so counterproductive, why do cities impose them? How else might the housing problems of poor people be solved?

3. Who is harmed by rent controls? Who is helped?

4. What would happen in the apple market if the government set a minimum price of $2.00 per apple? What might motivate such a policy?

5. Is there a shortage of on-campus parking at your school? How might the shortage be resolved?