Suppose that the demand and supply schedules for rental apartments in the city of gotham are as given in the table below. a. what is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied? b. if the local government can enforce a rent-control law that sets the maximum monthly rent at $1,500, will there be a surplus or a shortage? of how many units? and how many units will actually be rented each month? c. suppose that a new government is elected that wants to keep out the poor. it declares that the minimum rent that can be charged is $2,500 per month. if the government can enforce that price floor, will there be a surplus or a shortage? of how many units? and how many units will actually be rented each month? d. suppose that the government wishes to decrease the market equilibrium monthly rent by increasing the supply of housing. assuming that demand remains unchanged, by how many units of housing would the government have to increase the supply of housing in order to get the market equilibrium rental price to fall to $1,500 per month? to $1,000 per month? to $500 per

a. What is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied?

     Market equilibrium rental price = $ 2,000 correct.

    Market equilibrium quantity = 12,500 apartments

 b. If the local government can enforce a rent-control law that sets the maximum monthly rent at $1,500, will there be a surplus or a shortage?

     -Shortage Correct

Of how many units?

    -5,000 apartments per month

How many units will actually be rented each month?

     -10,000 apartments

c. Suppose that a new government is elected that wants to keep out the poor. It declares that the minimum rent that landlords can charge is $2,500 per month. If the government can enforce that price floor, will there be a surplus or a shortage?

     -Surplus Correct

Of how many units?

     -5,000 apartments per month

 And how many units will actually be rented each month?

    -10,000 apartments

d. Suppose that the government wishes to decrease the market equilibrium monthly rent by increasing the supply of housing. Assuming that demand remains unchanged, by how many additional units of housing would the government need to supply to get the market equilibrium rental price to fall to $1,500 per month?

     -5,000 apartments

To $1,000 per month?

     -10,000 apartments

To $500 per month?

     -15,000 apartments

Explanation:

christopher columbus sail the ocean blue 1492

a. money supply  

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