Rent controls create large shortages in the long run rather than the short run because the long-run supply curve for apartments is inelastic.

Name: Rent controls create large shortages in the long run rather than the short run because the long-run supply curve for apartments is inelastic.
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In the long run, the supply curve for apartments is more elastic, not inelastic, which means that rent controls can lead to larger shortages as landlords may reduce supply or convert apartments to other uses.

Rent Controls Create Large Shortages in the Long Run Rather