Business, 23.10.2019 21:00 fluffyanimal456

The competitive equilibrium rent in the city of lowell is currently $1,000 per month. the government decides to enact rent control and to establish a price ceiling for apartments of $750 per month. briefly explain whether rent control is likely to make each of the following people better or worse off.

someone is currently renting an apartment in lowell
someone who will be moving to lowell next year and who intends to rent an apartment
a landlord who intends to abide by the rent control law
a landlord who intends to ignore the law and illegally charge the highest rent possible for his apartments

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The competitive equilibrium rent in the city of lowell is currently $1,000 per month. the government...

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