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A government-imposed price ceiling on rental apartments leads to a shortage, resulting in fewer apartments being rented than would occur at equilibrium.
A decrease in consumer income causes a leftward shift in the demand curve, leading to an increase in the equilibrium price and quantity.
A subsidy on corn production increases the supply, leading to a surplus that drives prices down.
A tax on luxury goods raises the price consumers pay, decreasing the quantity sold without affecting the overall market equilibrium.
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Calculating Deadweight Loss
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