A government measure that prohibits the charging of a price higher than a certain level is termed a:
Referring to the graph, fully explain the consequences of a Maximum Price Control on the market for houses for rent. Include the following:
quantity demanded before and after the price control/
quantity supplied before and after the price control/
a problem the price control might create and a possible solution for the problem outlined.
What would the difference between Q and Qs indicate?
How would you calculate the change in the total value of sales after a maximum price is imposed?