Question: the following information will be used to solve q1q4 of...
The following information will be used to solve Q1-Q4 of this quiz. Consider the rental housing market in Sydney. The following graph describes this market. The vertical axis represents the monthly rental price. The horizontal axis represents the number of homes rented per month (in '000s).
True or false: Any price ceiling above $2000 per month will be a binding price ceiling in the Sydney rental market.