Rent controls require that landlords set apartment prices below the equilibrium price level. An immediate effect is an apartment rental shortage (excess demand for apartments), because at the regulated price the quantity of apartments demanded is greater than the quantity supplied.

When landlords are prevented by cities from charging market rents, which of the following listed outcomes are common in the long run?Check all that apply.

a)The quantity of available rental housing units falls.

b)The quality of rental housing units falls.

c)Black markets develop.

d)Efficient use of housing space results.