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by oolang
1762 days ago
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No, what basic economics says it that a price ceiling causes a shortage of supply _if_ no other variables change. Which they do in general but especially in the housing market. That is the principle called "ceteris paribus". And that is in addition to having the right supply curve in the first place. The potential shortage of supply created by a price ceiling may very well be irrelevant when supply decreases from other factors. |
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