Explain Each your answer with the clear and supportive explaining idea with creative work Question 1. What are some of the advantages and disadvantages of rent control?
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Explain Each your answer with the clear and supportive explaining idea with creative work
Question 1. What are some of the advantages and disadvantages of rent control?
Question 2. Are rent control laws helping/hurting the housing market?
Q.3 Apart from making and enforcing laws, how can the government enter the housing market system to prevent high rents?
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- 3. How do the laws of demand and supply work for the real estate market? How do prices/rents change depending on demand/supply? 4. What markets should we be looking for, for profitable real estate investments? (also diagrammatically)4. We say that rent stabilization creates rationing because . . .(a) Those who are in rent stabilized housing are issued ration booklets which they use to pay therent. (b) Some people don’t want to live in rent stabilized apartments because they tend to be old (pre- 1974).(c) So long as rent stabilization keeps rents below the market level, demand must exceed supply,which is the very definition of rationing.(d) Supply will not be at its first best level.(e) So long as rent stabilization keeps rents below the market level, the intervention in the marketkeeps some sellers from reaching buyers, meaning there is excess supplyIV. APPLICATION 2. A recent typhoon hit the Philippines where most of the raw materials are produced. What non-price determinants will affect the supply and in what way? How will it affect the country’s economy?
- 1. Show on a single diagram, given a competitive market, how an increase in demand will provide the opportunity for rent-seeking activity.5 enter your answer as whole numbers A. What is the market equilibrium rental price per month and the market equilibrium number of apartments demand and supplied? market equivalent rental price is: ______ per month B. If the local government can enforce a rental control law that sets the maximum monthly rent at $2250 will there be a surplus or a shortage? ______ Of how may units ______ apartments per month How many units will actually be rented each month? ________ apartments C. Suppose that a new government is elected that wants to keep out the poor. It declares that the minimum rent that can be charged is $3,250 per month. If the government can enforce that price floor will there be a surplus or a shortage? _______ Of how many units? _______ apartments per month how many units will actually be rented each month? _______ apartments  Question A You are interested in selling your old car. A friend has offered to buy it for $3,500. You are satisfied with the deal because you would not be willing to pay more than $3,000 for it given its current condition. After reviewing the car market, you were sure no one would be willing to pay more than $3,200 for the car. What is the fair market value of the car? ...Full explain this question and text typing work only We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this line.
- 1. The rental market in a town is considering a rent control law. If implemented, this law would lower all rents in the town to $400 per month. Suppose all rentable properties in this town are alike, the current market clearing rent is $500 per month, and that at this market clearing price there are 500 rental units. Further, suppose that it is predicted that with rent control, the number of units available for rent will fall to 400 and there will be 200 units that are not occupied. Assume that the market demand and supply of rental units are linear. Calculate the dollar value of the impact rental law policy on the landlords, tenants and society as a whole 2$ 500 400 D. Rental units 5001. Ceteris paribus how might governmental subsidies for price ceilings may entice more affordable housing. 2. How do labor and wages affect homeownership and rentals in the U.S. ?use diagramsa. What is the effect on the equilibrium price and quantity traded in market of theintroduction of a new technology that reduces costs of production for all firms?b. What is the effect on the equilibrium price and quantity traded in a market of a changein tastes that reduces the demand for the product?c. What is the effect on the equilibrium price and quantity traded in a market of theimposition of a tax per unit sold on suppliers?d. What is the effect on the equilibrium price and quantity traded in a market of thepayment of a subsidy per unit sold paid to suppliers?
- QUESTION 36 Under rent control, landlords cease to be responsive to tenants' concerns about the quality of the housing because O a. with rent control, the government guarantees landlords a minimum level of profit. O b. they become resigned to the fact that many of their apartments are going to be vacant at any given t Oc. with shortages and waiting lists, they have no incentive to maintain and improve their property. d. with rent control, it becomes the government's responsibility to maintain rental housing.Distinguish between the following concepts:I. Microeconomics and macroeconomicsII. II. Scarcity and choiceIII. Opportunity cost and scale of preference.b. With the aid diagrams show the differences between the following:I. Increase in demand and increase in quantity demand II. Decrease in supply and decrease in quantity suppliedIII. Price ceiling and price floorDiscuss any one of the following questions 2. Discuss the Sixth principle of economics by Mankiw and why it is important to economic activity. 3. Explain the Differentiation between market surplus and shortage?