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Figure 4-5 Price (dollars per month) $2,500 Supply 2,000 1,500 1,000 500 Demand 200 400 600 Quantity (apartments) Figure 4-5 shows the market for apartments

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Figure 4-5 Price (dollars per month) $2,500 Supply 2,000 1,500 1,000 500 Demand 200 400 600 Quantity (apartments) Figure 4-5 shows the market for apartments in Springfield. Recently, the government imposed a rent ceiling of $1,000 per month. Refer to Figure 4-5. Suppose that instead of a rent ceiling, the government imposed a price floor of $2,000 per month for apartments. What is the quantity of apartments demanded at the new price? Oo 200 300 O 500

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