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

Trade policy, TRADE policy: The well known economist D. H. Robertson h...

TRADE policy: The well known economist D. H. Robertson has immortalized the role of trade in development with his famous statement that "trade is an engine of growth". The pol

Division of labor, Division of Labor The occupation or breaking down o...

Division of Labor The occupation or breaking down of jobs into simple and repetitive responsibilities.

The analysis of competetive markets, how can a price ceiling make consumers...

how can a price ceiling make consumers better-off? under what conditions might it make them worse off?

Banking infrastructure, Banking Infrastructure: An efficient financial...

Banking Infrastructure: An efficient financial system can influence the long-term growth through three important channels, namely: 1) increase in the proportion of saving tran

Estimating the level of output for the target year, MRP Technique - Estima...

MRP Technique - Estimating the Level of Output for the Target Year Taking into account several parameters of economic growth such as past trends, present as well as proposed

Net exaim help, net preparation ranjna baghel

net preparation ranjna baghel

What are the costs and difficulties of such an operation, What are the cost...

What are the costs and difficulties of such an operation? The direct costs are administrative, cooperative and storage costs, whereas the societal costs include misallocation,

What are externalities and corrective taxes, 1. What are externalities? Giv...

1. What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities? 2. What are

Project work, PLEASE GIVE ANY ONE TOPIC OF ECONOMIC WITH ANSWERS

PLEASE GIVE ANY ONE TOPIC OF ECONOMIC WITH ANSWERS

What is cost effectiveness analysis, Q. What is Cost effectiveness analysis...

Q. What is Cost effectiveness analysis? Cost effectiveness analysis A method which seeks to identify the least cost option for meeting a particular objective. It actives prior

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