JAMB Economics 2020 Objective — Question 20

Question 20 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2020 Objective paper, with the correct answer and a full explanation.

In Nigeria, government can reduce the cost of accommodation by fixing rent

A. at the prevailing rate
B. at the equilibrium price
C. above the equilibrium price
D. below the equilibrium priceCorrect

Explanation

Fixing rent below the equilibrium price is a way government reduces the cost of accommodation for tenants.

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