Description
Hi,
This is an easy assignment that I don’t have enough time to complete. It is a multi-part question that must be answered in complete, grammatically correct sentences. I will attach a Microsoft Word version of this file that you can view all the questions on and type on. There are some multiple choice problems that correspond to graphs in the attached file. Please let me know if you have any questions. If applicable to the question, please show your calculations. You must document at least one outside source for your essay portion. Thank you.
Part I. Essay Question (55 points). One or two pages are expected (double-spaced)
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Discuss the policy of rent-controlled housing in the United States: what was the original intention on such price intervention? Briefly debate about the benefits and disadvantages of such a policy (as a price ceiling) for a market economy. What cities in the country still follow that kind of policy?
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Make sure to correctly cite your references and sources. At least one reference is required.
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Part II. Analytical Questions (45 points total/15 points each). Please include all calculations when needed. Remember the areas of a triangle and a rectangle, you need them for Question 1 and Question2.
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Question 1
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Based on this figure, please answer a, b and c (hint: do not forget to include in your analysis the calculations of changes in price and quantity! I suggest you work with areas; area of a triangle Base x Height x ½))
