In 2 or 3 sentences, explain if rent control is a price floor or price ceiling. then name one advantage and one disadvantage of rent control.

Price Ceiling

Explanation:

A price ceiling is a normative by law maximum price that products and services can be sold in the market, rent control is a very interesting thing and example of that, rent control allows renters to afford housing in crowded cities where people coming to the city could inflate the real state market by over paying for housing, making it impossible for locals to actually afford a house in their own city. The disadvantage is that for real state owners, they can´t elevate the cost of rent.

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