Select the answers from the boxes that make each statement correct. In the long run, the shortages of available housing resulting from rent controls are are in the short run. pronounced than (as) they One explanation for this is that in the long run, firms can makes changes to the amount of housing they provide easily than (as) they can in the short run. Because of differences in firms' ability to make changes to quantity supplied, the long-run supply curve for housing is modeled as a line that is Therefore, supply is steep than (as) the short-run supply curve. elastic in the short run than (as) in the long run.
Select the answers from the boxes that make each statement correct. In the long run, the shortages of available housing resulting from rent controls are are in the short run. pronounced than (as) they One explanation for this is that in the long run, firms can makes changes to the amount of housing they provide easily than (as) they can in the short run. Because of differences in firms' ability to make changes to quantity supplied, the long-run supply curve for housing is modeled as a line that is Therefore, supply is steep than (as) the short-run supply curve. elastic in the short run than (as) in the long run.
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 21P
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Transcribed Image Text:Select the answers from the boxes that make each statement correct.
In the long run, the shortages of available housing resulting from rent controls are
are in the short run.
pronounced than (as) they
One explanation for this is that in the long run, firms can makes changes to the amount of housing they provide
easily than (as) they can in the short run.
Because of differences in firms' ability to make changes to quantity supplied, the long-run supply curve for housing is
modeled as a line that is
Therefore, supply is
steep than (as) the short-run supply curve.
elastic in the short run than (as) in the long run.
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