(Solved): In the prescene of rent control, consumers' surplus (decreases/increases) by ($320 mil/ $80 mil/ $40 ...

Suppose that the government decides to impose a rent control of \( \$ 2,100 \) per month on rental apartments in New York City: On the following graph, use the green point (triangle symbol) to shade the area representing consumers' surplus in the presence of rent control. Use the purple point (dumond symbol) to shade the area representing producers' surplus after the rent control. Then use the grey point (star symbol) to shade the area representing deadweight loss resulting from the rent control. In the presence of the rent control, consumers' surplus by per month and producers' surplus per month. The price ceiling on rent causes per month of deadweight loss. Tool tip: Click on the shaded regions in the graph to see their areas. Which of the following are generally true of rent control? Check all that apply. The quality of rental apartments improves. Everyone who can afford the rent can find an apartment immediately. Misallocation of apartments occurs. The price ceiling represents the total opportunity costs of consumers from renting an apartment. Some landlords may require renters to buy the furniture in the apartment.