4. Effects of Rent Control Rent controls force landlords to price property below the equilibrium price level. An effect of this is to create a shortage (excess demand) of rental property, as the quantity of rental property demanded is greater than the quantity supplied at that price. When legislation prevents landlords from charging market rents, what can happen in the long run as a result? Check all that apply O Non-price methods of rationing emerge. O The future supply of rental housing units increases. O Efficient use of housing space results. O Landlords earn lower profits from renting housing units, but the rent charged has no effect on either the quanbity or quality of rental units.
4. Effects of Rent Control Rent controls force landlords to price property below the equilibrium price level. An effect of this is to create a shortage (excess demand) of rental property, as the quantity of rental property demanded is greater than the quantity supplied at that price. When legislation prevents landlords from charging market rents, what can happen in the long run as a result? Check all that apply O Non-price methods of rationing emerge. O The future supply of rental housing units increases. O Efficient use of housing space results. O Landlords earn lower profits from renting housing units, but the rent charged has no effect on either the quanbity or quality of rental units.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter3: Demand And Supply
Section: Chapter Questions
Problem 53P: Table 3.8 shows information on the demand and supply for bicycles, where the quantities of bicycles...
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