CUET Economics 2025 26 May Shift 2 - Suppose the market determined rent for apartments is \200 per month. The government intervenes and sets the rent control at 250 per month. What is the likely impact of this intervention on market of apartments? | PYQs + Solutions

CUET Economics 2025 26 May Shift 2

Micro

Easy

There will now be excess supply of apartments

There will now be excess demand for apartments

The market determined rent will now rise above 200 per month

There will be no impact of this intervention on the market of apartments

✅ Correct Option: 4

Related questions:

16 May Shift 1

When the price of a good falls from Rs. 40 to Rs 30, the total revenue earned by the firm falls from Rs. 4000 to Rs. 2700, find price elasticity of supply for the good.

26 May Shift 2

The market determined price of a good is Rs. 40.The government determines the price ceiling on the good as Rs. 25. Calculate the excess demand/excess supply it will cause if the demand and supply functions are Qd= 200 – p and Qs=120+ p respectively.

28 May Shift 2

In the determination of a particular variable, the assumption of "ceteris paribus" stands for.

CUET Economics 2025 26 May Shift 2 PYQs

Keyboard Shortcuts