Suppose that the current equilibrium rent in Latrobe is $300 per month. What will happen in the market for apartments in Latrobe if the City Council mandates a rent ceiling of $200 per month?
A. The number of apartments made available in Latrobe will increase.
B. The number of people interested in renting apartments in Latrobe will increase.
C. The number of apartments rented in Latrobe will increase.
D. All of the above will happen.
Answer: B
Microeconomics
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