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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The Economics of Public Issues

ISBN: 978-0134018973

19th edition

Authors: Roger LeRoy Miller, Daniel K. Benjamin, Douglass C. North

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