Title:Renters Revolt!

ECONOMICS 37-09-71.PSW Demand, Supply, and Prices 3. Explain why you agree or disagree with Maurice Johnson's statement about apart- ment developers. (Be sure to use the concept of opportunity cost in your explana tion.) Part 3 - Solving the Problem In the following space, draw a supply and demand graph showing the housing market situation in Appleton after the rent controls were passed. (Be sure to use a typical upward-sloping supply curve and remember to label the axes correctly.) What are the pros and cons of the rent control law? Do you think the rent control law should be kept or repealed? Explain your decision