What happened to the number of rental units in the market

Assignment Help Business Economics

Reference no: EM131253068

In 1999, after nearly 20 years of rent control in Berkeley (CA), the removal of the law led to a rise in rents of nearly 40%.

Describe how rent control affected the S&D graph for the rental-housing market: did this cause a shift in D or S or was it a change in Qs and Qd? Explain.

Describe how the law’s elimination affected the rental-housing market. What happened to the number of rental units in the market?

Reference no: EM131253068

Questions Cloud

Write down demand and supply equations for wireless phones : Write down demand and supply equations for wireless phones; include two exogenous variables in each equation. Draw a supply-demand graph for wireless phones. Use your graph to show how a change in one of your exogenous variables affects the model’s e..

Two exceptions to the miranda warning : Explain and discuss the two specific conditions (i.e., triggers) that must exist before the Miranda Warning needs to be given and the two exceptions (not the waiver) to the Miranda Warning.

How does economic darwinism explain management structure : How does economic Darwinism explain management structure? Why do government bureaucracies not adopt more efficient methods of management structure? Describe 5 common problems that occur in bureaucracies.

Due to inflationary pressures : Due to inflationary pressures, the national income of households has been spread across a higher overall price base for goods and services. How will this affect be shown in an AD/ASAD/AS model?

What happened to the number of rental units in the market : 999, after nearly 20 years of rent control in Berkeley (CA), the removal of the law led to a rise in rents of nearly 40%. Describe how rent control affected the S&D graph for the rental-housing market: did this cause a shift in D or S or was it a cha..

How does this affect domestic steel-makers : If the President imposes tariffs (taxes) on imported steel, how does this affect domestic steel-makers? How does this affect the domestic appliance-manufacturers? [Hint: Draw the S&D for “imported steel”, and draw a separate S&D for “local steel”. An..

Understanding of elasticity and ability to increase revenue : Elasticity.....an important, powerful and, at times, challenging topic. Imagine this: you just won a contest and have been appointed the State Tax Commissioner (you might be asking: why did I enter? and is this a good thing to win?) Try to connect th..

Explain what kind of preferences would lead to refusal : Let’s assume there are only two goods: food and money. The price of food is $4 per unit and the price of money is $1 per unit. Draw the budget set of a low income person with income $800 without any social program, and under each of the two programs...

User Account

All Pages