Question

1) in a market without price controls, market pressures push price toward ___.

- shortage prices
- equilibrium prices
- surplus prices

2) opponents of rent control believe that it causes housing ___.
- surplus
- shortage
- market

3) suppose you produce a camera that cost $50 to make. at a selling price of $45, you will ___.
- earn a profit
- just cover your cost
- lose money

Answer 1

No 3: Lose money because you spend more money making the camera and you sell it lesser than the amount you produced it with

No 2: Shortage

No 1: shortage prices

Answer 2

Earn profit because you have to spend a little to get money back.