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Lecture

Chapter 6 Thursday October 27.docx

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Department
Management (MGT)
Course
MGTA01H3
Professor
,
Semester
Fall

Description
Chapter 6 Thursday October 27 2011Rent Ceilings a shortage other mechanism will kick in to offshore this method shortage of apartment units because the supply is decreased because of the shortagefrom the shortage unitl the surplus is the black market price for people to rent an apartment which is 1200 which is an extra 400owner of app can offer a 400 increase because of the shortage and the demandSearch Activity the time spent looking for someone with whom to do businessa rent ceiling does not help because of the shortage and the fact that now the black market can make it more expense because its more expensive than the equilibrium priceInefficiency of Rent Ceilingsdead weight loss is the loss of production the marginal benefit exceeds the marginal costthe under supply of appartmentsthese renters probably rebnting t
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