User Account

All Pages

Supply and demand, Microeconomics

Assignment Help:
#questioIn many metropolitan areas of the country, local governments often impose rent controls on apartments. The justification for doing so is that the current market rent is considered to be “too high” for those whose incomes are low. In this manner, local governments set a price ceiling on rents charged by landlords (the owners of the rent-controlled buildings). However, landlords cease to be responsive to the renters’ concerns about the quality of the apartments. As a result, rent-controlled apartments are often dilapidated and almost unlivable for renters. Which of the answer choices best explains the reason for this?

A.
With rent control, local governments guarantee landlords a minimum level of profit.

B.
Landlords accept the fact that many of their apartments are going to be vacant at any given time.

C.
With shortages and waiting renters, landlords have no incentive to maintain and improve their properties.

D.
With rent control, local governments take responsibility to maintain rental housing. Because of budget shortfalls, many local governments do not have the tax revenue to maintain the properties.n..

Related Discussions:- Supply and demand

Elasticity, What are the uses of elasticity to the private sector

What are the uses of elasticity to the private sector

Competitive equilibrium, (a)    Explain why the Pareto criterion does not p...

(a)    Explain why the Pareto criterion does not provide a complete ordering of the ordinal utility space (b)   The competitive equilibrium is the only allocation where the gain

Per unit tax and surplus, How does a per unit tax affect consumer surplus.

How does a per unit tax affect consumer surplus.

Esalstcity of demand and supply, why is the concept of elasticity crucial t...

why is the concept of elasticity crucial to the study of economics?

Cobweb model, COBWEB MODEL: Concept of dynamic stability: A market e...

COBWEB MODEL: Concept of dynamic stability: A market equilibrium is said to dynamically stable only when disequilibrium price and quantity move and over time reach to any eq

Increasing returns to scale and decreasing returns to scale, Increasing ret...

Increasing returns to scale and decreasing returns to scale: Increasing returns to scale occur when increases in all inputs by a certain percentage cause a relatively higher p

Production posibility curve, what do you understand by production posibilit...

what do you understand by production posibility curve?

Three factors by america palce at world economy leading edge, 3 factors by ...

3 factors by america palce at world economy leading edge 3 factors have taken pride of place in explanations of America's place at the world economy's leading edge in its level

What is opportunity cost, What is opportunity cost?  Answer:   Opportun...

What is opportunity cost?  Answer:   Opportunity cost is a term used in economics, to mean the cost of something in terms of an opportunity foregone (and the advantages that co

Economics, 4) The prevention of major swings in economic activity can be ha...

4) The prevention of major swings in economic activity can be handled most easily by the A. household sector B. business sector C. financial sector D. government sector Explain

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd