Given the Apartments supply and demand schedules table below: MONTHLY RENT APARTMENTS DEMANDED APARTMENTS SUPPLIED $2500 10,000 15,000 $2000 12,500 12,500 $1500 15,000 10,000 $1000 17,500 7,500 $500 20,000 5,000 What is the market of equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied? If the local government can enforce a rental-control law that sets the maximum monthly rent at $1500. Will there be a surplus or shortage? Of how many units? How many Units will be rented each month? Assume that demand remains unchanged, by how many units of housing would the goverment have to increase the supply of housing in order to get the market equilibrium rental price to fall to $1500/month, $1000/month and $500/month?

Given the Apartments supply and demand schedules table below: MONTHLY RENT APARTMENTS DEMANDED APARTMENTS SUPPLIED $2500 10,000 15,000 $2000 12,500 12,500 $1500 15,000 10,000 $1000 17,500 7,500 $500 20,000 5,000 What is the market of equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied? If the local government can enforce a rental-control law that sets the maximum monthly rent at $1500. Will there be a surplus or shortage? Of how many units? How many Units will be rented each month? Assume that demand remains unchanged, by how many units of housing would the goverment have to increase the supply of housing in order to get the market equilibrium rental price to fall to $1500/month, $1000/month and $500/month?