999 after nearly 20 years of rent control in berkeley ca, Business Economics

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999 after nearly 20 years of rent control in berkeley ca

In 1999, after nearly 20 years of rent control in Berkeley (CA), the removal of the law led to a rise in rents of nearly 40%.

Describe how rent control affected the S&D graph for the rental-housing market: did this cause a shift in D or S or was it a change in Qs and Qd? Explain.

Describe how the law’s elimination affected the rental-housing market. What happened to the number of rental units in the market?

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Business Economics: 999 after nearly 20 years of rent control in berkeley ca

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