Discussion Question 1
A residential building in New York City contains 15 luxury-appointed lofts in a highly desirable location. How do "rent ceilings" affect the property owner (supply) and potential tenants (demand)? Which has the greater effect on the overall economy? Why?
Discussion Question 2
Does the shifting of the demand curve to the right or the shifting of the supply curve to the left have the greater long-range economic effect? Why? Are these shifts more significant than shifts along the curves? Why or why not?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.