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Author Question: New York City, which has had a rent ceiling law for more than sixty years, has many abandoned ... (Read 59 times)

SAVANNAHHOOPER23

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on: May 24, 2019
New York City, which has had a rent ceiling law for more than sixty years, has many abandoned apartment buildings throughout the city. Which of the following explains this?
◦ Few workers with jobs in the city want to live in there because of pollution.
◦ No building permits for new apartment buildings have been issued for over fifty years.
◦ Once any building gets so old, it is abandoned.
◦ Landlords have no incentive to finance maintenance and remodeling of apartment buildings.
◦ Rent ceilings make the construction of new buildings so profitable that old buildings are simply abandoned.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by SAVANNAHHOOPER23 on May 24, 2019

cam1229

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Reply #1 on: May 24, 2019
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SAVANNAHHOOPER23

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Reply #2 on: May 24, 2019
Thank you!


cam1229

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Reply #3 on: May 24, 2019
Always glad to help...


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