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N1 The graph shows the rental market for apartments in Dayton, Ohio. If the city government imposes a rent ceiling of $600 a month, what
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The graph shows the rental market for apartments in Dayton, Ohio. If the city government imposes a rent ceiling of $600 a month, what is the rent and how many apartments are rented in Dayton, Ohio? If a black market develops, how high could the black market rent be? >>> Remember that the quantity given on the x-axis is in thousands of apartments. The rent is $ 1000 a month and 20,000 apartments a month are rented. If a black market develops, the black market rent may be as high as $ 800 a monthStep by Step Solution
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