The student union at New York University is starting an organization on campus to protest the high cost of rental apartments near campus. This organization is planning a meeting with the dean and the president of the university to discuss options. Which choice BEST describes one policy the student organization might fight for?
A)a quota for apartments
B)a price floor
C)a price ceiling
D)a quantity control

Question

Quizplus · Accepted Answer

The student organization may fight for a price ceiling, which would place a legal limit on the maximum price that landlords could charge for rental apartments near campus. This would help lower the overall cost of living for students in the area. Quotas and quantity controls would limit the number of rental apartments available, while a price floor would establish a minimum price for apartments, none of which would address the issue of high rental costs.

The Student Union at New York University Is Starting an Organization