What is a price ceiling why is there a need for rent, Business Economics

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What is a price ceiling why is there a need for rent

1) What is a price ceiling? 2) Why is there a need for rent control in Los Angeles? 3) How does rent control affect the real-estate market? 4) Are you in favor of rent control or not, and why? 5) What needs to happen to prevent scarcity from re-occurring in the future?

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