With rent controls set below the equilibrium rent, what mechanism might arise that moves the market closer to the efficient equilibrium?

Name: With rent controls set below the equilibrium rent, what mechanism might arise that moves the market closer to the efficient equilibrium?
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Question

Quizplus · Accepted Answer

Black market activity can arise as landlords and tenants try to circumvent rent controls, allowing rents to rise closer to the equilibrium level through unofficial channels.

With Rent Controls Set Below the Equilibrium Rent, What Mechanism