To make housing more affordable for residents of West Virginia, the state government has set a binding
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Question:
To make housing more affordable for residents of West Virginia, the state government has set a binding rent control of $300 for 1-bed apartments. Using demand and supply diagram, briefly explain the effect of this rent control on tenants, landlords and economic efficiency.
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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