Rent Controls Create Large Shortages in the Long Run Rather

question 106

True/False

Rent controls create large shortages in the long run rather than the short run because the long-run supply curve for apartments is inelastic.

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Definitions:

Annoyed

The feeling of being irritated or bothered by something or someone, often leading to discomfort or frustration.

Habits

Basically, routine behaviors that are performed regularly and often automatically.

Social Allergy Effect

A phenomenon where repeated exposure to certain behaviors or habits of others leads to an increasingly negative and irritated reaction over time.

Irritated

Feeling annoyance or discomfort, often due to a specific cause or situation.