Solved

Why Is the Long-Run Supply Curve of Rent-Controlled Apartments Typically

Question 153

Multiple Choice

Why is the long-run supply curve of rent-controlled apartments typically more elastic than the short-run supply curve?


A) In the long run, fewer new apartments are built, and older apartments are torn down or turned into condominiums.
B) In the long run, many more new apartments are built and this increases the supply of rent-controlled apartments.
C) In the long run, rent controls are always removed.
D) In the long run, the shortage of rent-controlled apartments becomes significantly less.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents