Business, 27.02.2020 21:50 aprilreneeclaroxob0c

In 1999, after nearly 20 years of rent control in Berkeley, California, the elimination of the law led to an estimated rise in rents of nearly 40%. Using supply and demand models, illustrate how the law and then its elimination affected the rental housing market.

a. Use the point drawing tool to identify the market price and quantity of rental housing with the rent control law. Label this point 'e Subscript law'.
b. Use the point drawing tool, indicate the equilibrium price and quantity for rental housing with no rent control laws. Label this point 'e Subscript no law'. Carefully follow the instructions above, and only draw the required objects.

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In 1999, after nearly 20 years of rent control in Berkeley, California, the elimination of the law l...

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