Question

Question 1 (1 point) One of the ways rent control is inefficient is that it leads to: a markets that maximize total surplus. b higher-quality apartments. c the construction of more apartments. d an increase in producer surplus with a larger decrease in consumer surplus. e high opportunity costs associated with wasted time for apartment seekers.

Answer 1

One of the ways that rent control is inefficient is that it has high opportunity costs associated with wasted time for apartment seekers.

What is rent control?

This is the term that is used to explain the control that the government of a country has on landlords that lease their houses out to tenants.

It puts a limit on the amount of money that landlords of houses can collect as the rent for their houses.

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