Business, 09.09.2019 20:30, vcortez

Suppose the city council in a large city decides to pass a law which forces landlords to charge a maximum rent of $750/month for a one-bedroom apartment. prior to the rent control, the average rent for a one-bedroom apartment was $1,750/month. which is likely to occur as a result of the price ceiling?
a. landlords will begin decreasing the quality of one-bedroom apartments by not making repairs or paying for upkeep.
b. the rental market will become more efficient.
c. some landlords and renters will agree on a price of less than $750/month and not report it to the government.
d. landlords will supply more apartments to the market than they did before the price ceiling.

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Suppose the city council in a large city decides to pass a law which forces landlords to charge a ma...