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Which of the following statements about the effects of rent control is correct? a. The short-run effect of rent control is a surplus of apartments, and the long-run effect of
rent control is a shortage of apartments. b. The short-run effect of rent control is a relatively small shortage of apartments, and the
long-run effect of rent control is a larger shortage of apartments. c. In the long run, rent control leads to a shortage of apartments and an improvement in the
quality of available apartments. d. The effects of rent control are very noticeable to the public in the short run because the
primary effects of rent control occur very quickly.

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