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

Transport infrastructure, Transport Infrastructure: The development of...

Transport Infrastructure: The development of transport infrastructure plays an important role in the growth process through increasing mobility of resources and increasing fac

Production cost, how can draw the table and diagram of production function ...

how can draw the table and diagram of production function function with one veriable

Revise business plans to incorporate appropriate cha, Revise business plans...

Revise business plans to incorporate appropriate changes.

Intermediate micro economics, Outline four limitation of game theory?

Outline four limitation of game theory?

Mankiw principles of microeconomics 7th edition, Lovers of classical music ...

Lovers of classical music persuade Congress to impose a price ceiling of $40 per concert ticket.

1, Find the market-clearing price and quantity of burritos.

Find the market-clearing price and quantity of burritos.

Performance of public sector enterprises, Performance of Public Sector Ente...

Performance of Public Sector Enterprises: Data reveal that the performance of the much-maligned public enterprises has shown a distinct improvement during the last 9 years. Gr

Unions in a competitive market, Unions in a Competitive Market: Again, ther...

Unions in a Competitive Market: Again, there a group of economists who will rely on the use of the competitive model to demonstrate the evils of unionization. The most regular anal

Monopsony, what are the pros and cons of monopsony

what are the pros and cons of monopsony

The demand for big macs., illustrate and explain the changing demand for bi...

illustrate and explain the changing demand for big mac using indifference curve and budget line

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