Monthly Rent Apartments Demanded (per Year) Apartments Suppl…

Monthly Rent Apartments Demanded (per Year) Apartments Supplied (per Year) $ 800 5,300 0 1,300 5,100 3,300 1,800 4,900 3,900 2,300 4,700 4,200 2,800 4,500 4,500 3,300 4,300 4,800 Using the table above, what if the city government could enforce a rent control law that sets the maximum rent that could be charged at $1,300? What is the amount of the surplus or shortage?

Monthly Rent Apartments Demanded per Year Apartments Supplie…

Monthly Rent Apartments Demanded per Year Apartments Supplied per Year 500 5,000 0 1,000 4,800 3,000 1,500 4,600 3,600 2,000 4,400 3,900 2,500 4,200 4,200 3,000 4,000 4,500 Using the table above, what if the city government could enforce a rent control law that sets the maximum rent that could be charged at $1,000? What is the amount of the surplus or shortage?

(1) Qd (2) Qd (3) Price (4) Qs (5) Qs 50 40 $ 10 70…

(1) Qd (2) Qd (3) Price (4) Qs (5) Qs 50 40 $ 10 70 80 60 50 9 60 70 80 60 8 50 60 90 70 7 40 50 100 80 6 30 40 Refer to the table. Suppose that demand is represented by columns (3) and (2) and supply is represented by columns (3) and (5). If the price were artificially set at $6,

Monthly Rent Apartments Demanded per Year Apartments Supplie…

Monthly Rent Apartments Demanded per Year Apartments Supplied per Year 500 5,000 0 1,000 4,800 3,000 1,500 4,600 3,600 2,000 4,400 3,900 2,500 4,200 4,200 3,000 4,000 4,500 Using the table above, what if the city government could enforce a rent control law that sets the maximum rent that could be charged at $1,000? How many units would actually be rented?