ent 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. The quality of rental housing units falls. Landlords earn lower profits from renting housing units, but the rent charged has no effect on either the quantity or quality of rental units. Black markets develop. The quantity of available rental housing units falls.
ent 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. The quality of rental housing units falls. Landlords earn lower profits from renting housing units, but the rent charged has no effect on either the quantity or quality of rental units. Black markets develop. The quantity of available rental housing units falls.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter4: Markets In Action
Section: Chapter Questions
Problem 9SQ
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![ent 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.
The quality of rental housing units falls.
Landlords earn lower profits from renting housing units, but the rent charged has no effect on either the quantity or quality of rental
units.
Black markets develop.
The quantity of available rental housing units falls.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1a4c3ab3-4cb1-4f76-b3c6-4d580077c3d9%2F3c84ead9-f9f1-4582-aa54-37665b9e6a73%2Frz0umi8_processed.png&w=3840&q=75)
Transcribed Image Text:ent 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.
The quality of rental housing units falls.
Landlords earn lower profits from renting housing units, but the rent charged has no effect on either the quantity or quality of rental
units.
Black markets develop.
The quantity of available rental housing units falls.
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