This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What are the major economic effects of rent ceilings? What will be an ideal ... (Read 77 times)

jeatrice

  • Hero Member
  • *****
  • Posts: 543
on: Jun 29, 2018
What are the major economic effects of rent ceilings?
 
  What will be an ideal response?

Question 2

The above figure shows the utility of wealth curve for a homeowner whose only possession is a 50,000 house. Which of the following statements is TRUE?
 
  A) This person has diminishing marginal utility of wealth.
  B) This person is not risk averse.
  C) Risky situations cause this person no loss of utility.
  D) None of the above are correct.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

LegendaryAnswers

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

Rent ceilings reduce the rental payments of those tenants able to find apartments at the controlled price and decrease the rental income received by landlords. They lead to a shortage of apartments, preventing some tenants from finding a suitable place to live. Another effect can be increased discrimination as landlords can choose tenants based on race, age, gender, or other criteria. Finally, rent ceilings result in black markets emerging and also increase the cost of searching for an apartment.

Answer to Question 2

A


jeatrice

  • Member
  • Posts: 543
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

strudel15

  • Member
  • Posts: 324
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Diseases and Effects on Liver Diseases and Effects on Liver
Effects of Living in Total Darkness on Monoaminergic Systems Effects of Living in Total Darkness on Monoaminergic Systems
Major cell types in the human body. Major cell types in the human body.
Posterior view of major muscles. Posterior view of major muscles.
Transcription and processing of the major ribosomal RNAs in eukaryotes Transcription and processing of the major ribosomal RNAs in eukaryotes
Effects of El Niño Effects of El Niño
Video: Knee Animation

For a complete list of videos, visit our video library