3 Suppose that the demand and supply schedules for rental apartments in the city of Gotham are as given in the following table. Apartments Apartments Monthly Rent Demanded Supplied $3, 250 10, 000 15,000 2, 750 12, 500 12,50 5.68 2, 250 15,000 10,000 points 1, 750 17,50 7,50 1, 250 20,000 5,000 Instructions: Enter your answers as a whole number. Book a. What is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied? Print Market equilibrium rental price = $ 2.000 Market equilibrium quantity = |15,000 apartments References b. If the local government can enforce a rent-control law that sets the maximum monthly rent at $2,250, will there be a surplus or a shortage? Shortage Of how many units? 5,000 apartments per month How many units will actually be rented each month? 12.500 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 $3,250 per month. If the government can enforce that price floor, will there be a surplus or a shortage? (Click to select) Of how many units? apartments per month And how many units will actually be rented each month? apartments