2021-04-11

EXAMPLE 1: The Market for Apartments

Rental P S
price of Equilibrium
apartments without price
$800 controls

D
Q
300
Quantity
of apartments

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How Price Ceilings Affect Market Outcomes

P S
A price ceiling Price
$1000
above the ceiling
equilibrium price $800
is not
binding—
has no effect on
the market D
outcome. Q
300

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as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 2
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How Price Ceilings Affect Market Outcomes

The equilibrium
P S
price ($800) is
above the ceiling
and therefore
illegal. $800
The price ceiling Price
is binding, $500
ceiling
causes a shortage
shortage. D
Q
250 400

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as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 3
management system for classroom use.

How Price Ceilings Affect Market Outcomes

In the long run,

P S
supply and
demand of rental
apartments are
more price- $800
elastic. Price
$500
ceiling
So, the shortage shortage
is larger. D
Q
150 450

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as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 4
management system for classroom use.

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제6장 수요, 공급과 정부정책

사례연구: 주유소에 늘어선 줄

• 1973년에 OPEC은 세계 원유 가격을 인상
̶ 휘발유 공급 부족으로 주유소에 긴 줄이 형성.
• 휘발유의 가격상한제
̶ 원유 가격이 오르기 전: 실효성이 없는 제도
̶ 원유 가격이 오른 후: 공급이 줄고 균형가격이 올랐지만
시장가격이 균형가격 수준으로 오를수 없어 물량부족이
발생
• 결국 휘발유 가격통제는 폐지

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license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 5

제6장 수요, 공급과 정부정책

그림 6.2: 가격상한제가 있는 휘발유 시장

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Shortages and Rationing

• Because of shortage
– Sellers must ration the goods among
buyers
• Some rationing mechanisms:
• Long lines
• Discrimination according to sellers’ biases
– Are often unfair and inefficient
• The goods do not necessarily go to the
buyers who value them most highly

© 2018 Cengage Learning® . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 7
management system for classroom use.

제6장 수요, 공급과 정부정책

사례연구: 임대료 규제의 단기 효과와 장기 효과

• 집주인이 세입자들에게서 받을 수 있는 임대료 상한을 규제
̶ 가난한 사람들의 주거비 부담을 덜어주기 위한 제도
̶ 저소득층의 생활수준 향상에 비효율적이라는 비난
• 단기효과
̶ 수요와 공급이 비탄력적
̶ 물량부족의 규모가 작음
̶ 임대료 하락

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otherwise on a password-protected website for classroom use. 8

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제6장 수요, 공급과 정부정책

사례연구: 임대료 규제의 단기 효과와 장기 효과

• 장기효과
̶ 수요와 공급이 탄력적
̶ 임대료가 하락함에 따라 공급은 크게 줄고 수요는 크게
늘어
̶ 주택부족 규모가 커짐

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otherwise on a password-protected website for classroom use. 9

제6장 수요, 공급과 정부정책

그림 6.3: 임대료 규제의 단기 효과와 장기 효과

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otherwise on a password-protected website for classroom use. 10