Unformatted text preview: for the good, and sellers receive less. elastic supply : incidence of tax falls more heavily on consumers inelastic supply : incidence of the tax falls more heavily on producers rent control: the winners are those who have had an apartment for decades, losers are the actors who need a place to live. Unregulated rents would actually drop. rent for unregulated apartments are high because they are only 1/3 of the market. Average rent would rise, but actual rents would fall freeing rents lead to 20 % increase in housing investment potential boom to city's residents,...
View Full Document
- Spring '08