1. Read the following article from Bloomberg News on the impact of rent control in San Francisco: https://goo.gl/LJo14A then answer the following questions. a.) Briefly explain what the impact of rent control on renters is according to the authors. b.) Who are the other invisible groups who were hurt by San Franciscos rent policy and how were they affected? c.) What do the authors argue is a better way of protecting renters than rent control?. 2. Read the following article on price elasticity from Harvard Business Review: https://goo.gl/gXSM8y and answer the following questions: a.) Do companies prefer to sell products that are more elastic or more inelastic? Briefly explain why. b.) What are the major factors that determine the price elasticity of a product? c.) What does the article describe as the best way to calculate price elasticity, and what other information is relevant to inform marketing efforts? d.) Suppose a marketing company runs a market test and finds that the price elasticity equals -0.8. Interpret this value. Would a company be more inclined to increase or to decrease price? Briefly explain.
