What impact will this have on the market for apartments

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Question: A city government passes a law setting the maximum price a landlord can charge for an apartment significantly above the market equilibrium. What impact will this have on the market for apartments? The law will lead to a shortage of apartments. The law will decrease rent for tenants without impacting the supply of apartments. The law will lead to a surplus of apartments, and landlords will try to attract tenants by improving apartment quality. The law will have no impact on the market for apartments.

Reference no: EM133552303

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