(Figure: Rent Controls) Use Figure: Rent Controls.Without rent controls,the equilibrium rent is:

A) Rent₄.
B) Rent₁.
C) Rent₂.
D) Rent₃.

Rent Controls

Government-imposed limits on the amount landlords can charge for renting out a property.

Equilibrium Rent

The rental price at which the quantity of rental property demanded equals the quantity supplied, leading to a market balance with no excess demand or supply.

Without Controls

In a context without controls, it refers to situations or experiments lacking regulation, restriction, or specific management, allowing outcomes to proceed naturally or freely.