Suppose the government decides to impose a rent control policy. The government sets a maximum price on apartments that is above the equilibrium price. You accurately predict that a.the law will create a surplus of apartments. b.landlords are less likely to do routine maintenance work in the apartments. c.the law will have no economic impact. d.renters will find that landlords start offering to furnish the apartments.

Suppose the government decides to impose a rent control policy. The government sets a maximum price on apartments that is above the equilibrium price. You accurately predict that a.the law will create a surplus of apartments. b.landlords are less likely to do routine maintenance work in the apartments. c.the law will have no economic impact. d.renters will find that landlords start offering to furnish the apartments.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter4: Demand, Supply, And Markets

Section: Chapter Questions

Problem 3.4P

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