Rent controls on apartments are an example of price controls

Last updated: 10/6/2023

Rent controls on apartments are an example of price controls on a commodity They keep the price artificially low below the equilibrium price Sketch a graph of supply and demand curves and label on it a price p below the equilibrium price What effect doe forcing the price down to p have on a The producer surplus b The consumer surplus c The total gains from trade Consumer surplus Producer surplus