Examine rent control in both the short run and long run

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The local government of a city is concerned about increasing rental costs for residents, and decides to impose a ceiling price on the maximum rents that can be charged by landlords on apartments and houses.

a. Using market analysis, examine this rationale of rent control in both the short run and long run.

b. Explain whether you think this move will accomplish the government's goal of helping make housing more affordable. Why or why not?

Reference no: EM13242447

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