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- How are rent controls likely to affect the market for housing in a city? Create a graph illustrating the market for apartments without rent controls to help with your answer. What does it mean, in terms of this market for the rent control to be effective? Would you recommend such a policy?City A and City B are on the opposite sides of the River. Suppose A imposes rent controls. With the use of diagrams explain what effect these controls will have upon the housing markets in A and B City?If rent controls are so counterproductive, why do cities impose them? How else might the housing problems of poor people be solved?
- Question 13.13 Which of the following is a consequence of rent controls established to keep housing affordable for the poor? Less rental housing is available as prospective landlords find it unprofitable to rent at restricted prices. The quality of rental housing declines as landlords lack the funds and incentive to maintain properties. Apartment buildings are torn down in favor of office buildings, shopping malls, and other buildings where rents are not controlled. All of the above are consequences of rent controls.Suppose Raleigh decides to adopt rent controls that end up reducing the rates landlords can charge below equilibrium rates. Which of the following is a likely consequence? Select one: A.Some landlords will convert rental housing units to other uses, thereby reducing the number of rental housing units available B.At lower rents, more NC State students will prefer living off campus as opposed to living in a dorm C.There will be a shortage of rental units in Raleigh D.All of the these answers are correctplease plot a graph showing the effect of a government subsidy on the market for surgical masks.
- the cities of Woburn and Peabody are five miles apart. Woburn enacts a rent control law that puts a ceiling on rents well below their competitive market value. Predict the impact of this law on the competitive equilibrium rent in Peabody, which doesn't have a rent control law. Illustrate your answer with a demand and supply graphConsider the attached graph showing the supply and demand for rental apartments around the UH. campus. If the government were to subsidize housing by $1000 per unit per month, then the quantity of rental apartments would____ (increase or decrease) by____ thousand units. The rental price received by landlords inclusive of the subsidy would ____(increase or decrease) by_____ dollars per month while the price paid by tenants, net of the subsidy, would____ (increase or decrease) by____ dollars per monthA company is considering building a bridge across a river. The bridge would cost $2 million to build and nothing to maintain. The following table shows the company’s anticipated demand over the lifetime of the bridge: If the government were to build the bridge, what price should it charge?
- The graph shows the rental market for apartments in Alexandria, Virginia. If the city government imposes a rent ceiling of $1,200 a month, what is the rent and how many apartments are rented in Alexandria, Virginia? If a black market develops, how high could the black market rent be? >>> Remember that the quantity given on the x-axis is in thousands of apartments. (...) The rent is $ 1200 a month and 2000 apartments a month are rented. If a black market develops, the black market rent may be as high as $2400 a month. 2800 2600- 2400 2200- 2000- 1800- 1600- 1400- 1200- 1000- 800+ 0 Rent (dollars per month) D 2 4 6 8 10 Quantity (thousands of apartments) L S 12 Q Q Time Remaining: 00:18:51Using the demand and supply graph given below, explain the impact of the ban in the market for cigarettes.With the help of appropriate diagrams, explain how a tax can be used to reduce the consumption of a harmful product such as cigarettes.
