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

Econometric, I need help with tutoring session for an economic coursework

I need help with tutoring session for an economic coursework

Summary of common property resource management , Normal 0 false...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Area of dominant influence (adi), Area of Dominant Influence (ADI) The...

Area of Dominant Influence (ADI) The ADI is a geographic area made up of all over the world that receive signals from radio and television stations in a individual market.

Define the circular flow diagram, The circular flow diagram is used to repr...

The circular flow diagram is used to represent the interdependence that exists between sectors of the economy.  The diagram illustrates that there are various collections of same e

Tax abolition, In the case of a tax abolition on food staples, what are the...

In the case of a tax abolition on food staples, what are the short run and long run effects?

Marginal Revenue, How do you calculate marginal revenue, and monopolistic p...

How do you calculate marginal revenue, and monopolistic profit?

Indifference curve, What is indifference curve and its properties?

What is indifference curve and its properties?

Total outlay method, ed=1 means p

ed=1 means p

General equilibrium , How to solve general equilibrium in pure exchange eco...

How to solve general equilibrium in pure exchange economy with 2 consumer and 3 commodities

What is law of variable proportions?, what is law of variable proportions?

what is law of variable proportions?

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