Explain how effects of rent control are very noticeable

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Reference no: EM1363698

Which of the following statements about the effects of rent control is correct?

a. The short-run effect of rent control is a surplus of apartments, and the long-run effect of rent control is a shortage of apartments.

b. The short-run effect of rent control is a relatively small shortage of apartments, and the long-run effect of rent control is larger shortage of apartments.

c. In the long run, rent control leads to a shortage of apartments, and the quality of available apartments is improved by rent control.

d. The effects of rent control are very noticeable to the public in the short run, because the primary effects of rent control occur very quickly.

Reference no: EM1363698

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