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Suppose that owners of​ high-rise office buildings are the main employers of custodial workers in a city. The city has decided to impose rent​ controls, and it has established a rent ceiling below the previous equilibrium rental rate for offices throughout the city.How will the quantity of offices that building owners lease​ change?

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Answer:

The quantity demanded will fall.

Explanation:

The fall in prices below the equilibrium price will lead to reduction quantity demanded by consumers.

The decrease in price will result in excess supply of office buildings, and demand will be less than what is being supplied.

This is illustrated in the diagram by the fall in quantity Q1 to Q2 when price is lowered from P1 to P2

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