If the market equilibrium rent for apartments is Rs500 per month, but the government sets a rent ceiling at Rs250, which of the following outcomes is least likely to happen?

Explanation

When rent controls are imposed below the equilibrium price, it typically leads to shortages, causing long waiting lines, discrimination by landlords, and possible bribery to secure apartments. It may also result in fewer vacant units as demand exceeds supply. However, the quality of apartments usually declines because landlords have less incentive to maintain their properties under rent ceilings.