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Calculate the shortage if the government were to impose a price ceiling of $2,000 based on the information given below. Please enter numeric value only.
Calculate the shortage if the government were to impose a price ceiling of $2,000 based on the information given below. Please enter numeric value only. Data on the market demand and market supply of rental apartments in a small college town is provided in the accompanying table. Rent Quantity demanded Quantity supplied $2,000 5,000 13,000 $1,800 8,000 12,000 $1,600 11,000 11,000 $1,400 14,000 10,000 $1,200 17,000 9,000
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