f. * The winners in the lottery in part (e) in essence become the suppliers of rights
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f. * The winners in the lottery in part
(e) in essence become the suppliers of “rights” to rentcontrolled apartments while those that did not win in the lottery become the demanders. Imagine that selling your right to an apartment means agreeing to give up your right to occupy the apartment in exchange for a monthly check q. Can you draw a supply and demand graph in this market for “apartment rights” and relate the equilibrium point to your previous graph of the apartment market?
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Related Book For
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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