2. Most economists have long argued in introductory mic

2. Most economists have long argued in introductory microeconomics classes that rent controls are bad policy. The main basis for this argument has been the basic model of supply and demand in a competitive market. What is the basis for arguments in favor of rent control? See the New York City Rent Guidelines Board and look for other arguments favoring rent controls. How do these arguments address or modify the basic supply-and-demand model?
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