Because rent controls reduce the rental price below the market clearing price, the quantity of rental units
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Because rent controls reduce the rental price below the market clearing price, the quantity of rental units on the market must decline. What does this imply must happen to the full cost of renting an apartment including “key money,” harassment by the landlord, and so forth? Explain.
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Related Book For
The Economics of Public Issues
ISBN: 978-0134018973
19th edition
Authors: Roger LeRoy Miller, Daniel K. Benjamin, Douglass C. North
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