-In the accompanying figure, what is the purpose of the jog function?
Definitions:
Rent Controls
Government-imposed limits on the amount landlords can charge for leasing properties, aimed at making housing more affordable.
Inefficiently Low Quality
A form of inefficiency in which sellers offer low-quality goods at a low price even though buyers would prefer a higher quality at a higher price; often a result of a price ceiling.
Allocation
The process of distributing resources or goods among different uses, users, or parties in a way that optimally meets criteria or objectives.
Mandated Price
A price set by government regulation or law, rather than determined by market forces of supply and demand.
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