above the equilibrium price
below the equilibrium price
precisely at the equilibrium price
at any price because all price ceilings are binding constraints
a shortage or a surplus depending on whether the price ceiling is set above or below the equilibrium price.
a surplus
a shortage
an equilibrium
There may be long lines of buyers waiting for apartments
Landlords may discriminate among apartment renters
There will be a shortage of housing
The quality of apartments will improve
always determines the price at which a good must be sold.
sets a legal maximum on the price at which a good can be sold
is not a binding constraint if it is set above the equilibrium price
sets a legal minimum on the price at which a good can be sold
The shortage created by the price ceiling is greater in the short run than in the long run.
The surplus created by the price ceiling is greater in the short run than in the long run.
The surplus created by the price ceiling is greater in the long run than in the short run
The shortage created by the price ceiling is greater in the long run than in the short run