Watch the video at the following link: https://mru.org/courses/principles-economicsmicroeconomics/rent-control-mumbaiindia?utm_source=EX&utm_medium=MRU&utm_campaign=MRUEmail&utm_content= rent-control-mumbai-india

1. Which of the following is NOT a consequence of rent controls in Mumbai?

a.There is a shortage of rental housing.

b.Low cost rentals have incentivized migration to Mumbai, leading to overcrowding.

c.Very few new and affordable housing is being developed.

d.Already existing apartment buildings are crumbling from lack of maintenance.

e.All of the above are consequences of rent controls in Mumbai.

2.Explain how rent controls is related to building collapses in India?

3.Which of the following partially accounts for the scarcity of low-price real estate in Mumbai?

a.Resentment between renters and landlords has led landlords to find ways to increase prices.

b.Political special interest groups put pressure on government to increase the price of real estate.

c.A lengthy and costly approval process means developers must offer high-price homes in order to make a profit.

d.Recent building collapses have scared away developers from new building projects in Mumbai.