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2.Now suppose that a price ceiling of $1,200 rent per month is imposed in the Vancouver housing market described above in problem #1. a)What is

2.Now suppose that a price ceiling of $1,200 rent per month is imposed in the Vancouver housing market described above in problem #1.

a)What is the new quantity of housing demanded? __________________

b)What is the quantity of housing that landlords would be willing to supply?____________

c)What is the excess quantity of housing demanded? _______________

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