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5. What action will a producer usually take when the price charged is higher than the equilibrium price?


6. Describe one argument for and one argument against rent control.


7. What does a rapid increase in demand for a good mean for a consumer?


8. What is the quickest way to resolve a shortage?


9. Describe three market problems that prevent efficient allocation of resources.

Respuesta :

astultz309459

5) Increase production

6) Rent laws help the renters with the greatest need however few renters benefit from this due to long waiting lists

7) They will have to pay more due to less being available

8) by raising the price

9) -negative externalities

-imperfect competition

-imperfect information

5,6,7,8,9

Hope this helps!

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