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$4.$ Effects of rent control

Rent controls require that landlords set apartment prices below the equilibrium price level. An immediate effect is an apartment rental shortage $($excess demand for apartments$),$ because at the regulated price the quantity of apartments demanded is greater than the quantity supplied.

When landlords are prevented by cities from charging market rents, which of the following listed outcomes are common in the long run? Check all that apply.

Nonprice methods of rationing emerge.

The quantity of available rental housin units falls.

Efficient use of housing space results.

The quality of rental housing units falls.