Suppose that the city of Rentville sets a price ceiling of $800 a month on all apartments, although the market equilibrium rent is $1,000. Which of the following is least likely to occur? a) An increase in the quantity of existing apartments in Rentville. b) A decrease in new apartments being built in Rentville. c) A shortage of apartments in Rentville. d) An excess of quantity demanded over quantity supplied in the market for apartments.
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