Assume that there is rent control in Chicago. Which of the following is true? The total surplus will fall because there will be a shortage of apartments. Consumer surplus will increase and as a result

Assume that there is rent control in Chicago. Which of the following is true? The total surplus will fall because there will be a shortage of apartments. Consumer surplus will increase and as a result all consumers in the rental market will benefit. All consumers in the rental market will benefit because the rent will be lower. The total surplus will rise because consumer surplus will increase.

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