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A small city imposes a price ceiling on rents that us 12% below the market clearing price. The price elasticity of supply of rental accommodations is 0.12 in the short run and 1.10 after five years. After the rent control is applied what will be the percentage change in the quantity supplied in the short run and after five years?


PLEASE SOMEONE HELP ME IM TRYING TO STUDY FOR AN EXAM AND I WANT TO MAKE SURE ITS RIGHT ! THANKS XOOXOXO
dana
dana
Asked Oct 13, 2012
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It would help if, instead of titling your question "Help?" you put a title actually explaining your question, so more people would click on it.
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tbiM20 Oct 14, 2012
true story
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Thehelper101 Oct 15, 2012
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