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Rent Control submission question

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Discussion Question for microeconomics ECON1101 about rent control.

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Rent Control submission question
Topics this document covers:
Economy Price controls Real estate Economics Renting Scarcity Urban planning Affordable housing Price ceiling Rent regulation Deadweight loss Supply and demand
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Topics this document covers:
Economy Price controls Real estate Economics Renting Scarcity Urban planning Affordable housing Price ceiling Rent regulation Deadweight loss Supply and demand
Sample Text:
This report will explore both the demand and supply side effects of price ceilings on the market for rental accommodation. An analysis of the short and long run impacts on the market for rental accommodation reveals the fact that price ceilings result in detrimental rather than Pareto efficient market outcomes. That is, price ceilings are unable to produce situations in which `there is no opportunity for exchange that will make at least one person better off without harming others' (Frank, Jennings, Bernanke 2009). The assumptions of ceteris paribus and the fact that the market for rental accommodation can ...
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