Why Is the Long-Run Supply Curve of Rent Controlled Apartments

question 164

Multiple Choice

Why is the long-run supply curve of rent controlled apartments typically more elastic than the short-run supply curve?

• A) In the long run, fewer new apartments are built, and older apartments are torn down or turned into condominiums.
• B) In the long run, many more new apartments are built and this increases the supply of rent controlled apartments.
• C) In the long run, rent controls are always removeC.
• D) In the long run, the shortage of rent controlled apartments becomes significantly less.

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Financial losses or harm that occur as a direct consequence of an action or event.

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A signature placed on a negotiable instrument, such as a check, without the consent of the party whose name is signed.

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An individual or entity that legally possesses a document, such as a check or promissory note, and has the right to enforce it.

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The legal process of transferring ownership of a property or asset from one party to another, typically involving a written document, such as a deed for real estate.