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Law requiring that rents be cut by one-fourth

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Suppose a government wishes to ensure that its citizens can afford adequate housing. Consider three ways of pursuing that goal. one method is pass a law requiring that rents be cut by one-fourth. A second method offers a subsidy to all builders of homes. A third provides a subsidy directly to renters equal to one-fourth of the rent they pay. Predict what effect each of these proposals would have on the price and quantity of rental housing in the short run and the long run.

Reference no: EM13903850

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