Draw a graph for housing where the equilibrium price for a, Microeconomics

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Draw a graph for housing where the equilibrium price for a

Problem

Draw a graph for housing where the equilibrium price for a rental is $800 an month and the equilibrium quantity is 1000 units.

If there was a rent control law that placed the maximum rent at $600 per month, what would the result be?

In the long run, what is likely to happen in this market?

Do you think that rent control laws are favorable or not? Why?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Draw a graph for housing where the equilibrium price for a

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