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Suppose that the local government in your city has just announced a proposal to assist low-income families by imposing rent controls (i.e., rent ceilings). a.
Suppose that the local government in your city has just announced a proposal to assist low-income families by imposing rent controls (i.e., rent ceilings). a. Will all low-income families be better off if rent controls are implemented? Use relevant concepts and diagrams that have been introduced in the course so far to explain your reasoning. (1 mark) b. Are there any potential problems with rent controls? (1 mark)
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