Because landlords are permitted to charge less than the maximum rent established by rent-control laws, a law
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Because landlords are permitted to charge less than the maximum rent established by rent-control laws, a law that sets the maximum rent at $1,200 will have no effect on the rents actually charged in this market, which will settle at the equilibrium value of $800 per month. (LO2)
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Related Book For 
Principles Of Microeconomics A Streamlined Approach
ISBN: 9781264058785
4th Edition
Authors: Robert H. Frank
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