Help? anyone?

Explain and show in a diagram why the short-run effects of rent control are likely to be less significant than the long-run effects?
for the diagram part you can just explain what I should draw.

Asked Oct 13, 2012
The short term effect would be to make rent payments less. The long term would be that housing would be poorly maintained and eventually there would be less housing available because real estate investors would be unwilling to invest in an area where they couldn't make money.

There is no way to post a diagram on this web site.
Answered Oct 13, 2012

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