Question

Imagine that you just graduated from high school and you want to move out of your parents' house and rent your own apartment. You realize that the rent for apartments is very high. The rent is $1,300 for a one bedroom apartment. In your opinion do you think the government should set a price ceiling of $900 for rent instead of $1,300? If the government does this, who would this help and who would this hurt? Explain.​

Answer 1

The price should be 900.

This would help pay off our debt to the US. So would 1,300 dollars, but it would be very pricy and the company would probably not get customers. This would hurt poor people and people with certain budgets.