In many large cities, such as New York City and San Francisco, low-income households face the dual challenges of excessively high rents and a shortage of available housing units.

B- In the short term, the housing supply is highly inelastic, indicating that owners are slow to adjust the available supply in response to price changes. Given this inelasticity, determine who benefits most from a tax reduction (landlords or renters). Employ the supply and demand model to support your analysis and provide explanations.

*Please GRAPH the answer using the supply and demand model*