Do you
5. Draw a graph to illustrate the effect of a binding price ceiling (also known as a rent ceiling) in the market for housing units. How does
the quantity of housing units rented change because of the rent ceiling? (I'm asking you to make up your own example of a binding price
ceiling.) (To include a picture, draw your graph on a piece of paper and take a picture of it. Then click on Insert>Image>Upload Image.
Alternatively, you can create a combined PDF file with your responses and your graph and upload a PDF file.)