The current market rate for rental housing in your town is $600 per month. Suppose that college students persuaded the town council to enact a law setting the maximum price for rentals at $400 per month. How would this affect the rental market in your town? Check all that apply.
A "black market" will develop.
Both the quality and amount of available rental housing will tend to fall.
The price ceiling will increase the incentive of landlords to maintain their properties.
Students will be less able to find housing.