Figure 6 shows a potential scenario of the local authorities in the Queens county in Ney York are intervening in the free market for all studio apartments within the county. The enforced ceiling rent is $1,000 per month, which applies to all tenants of any studio apartment in the county. Referring to Figure 6, which of the following is true after this rent ceiling is enforced?

There will be an excess demand (shortage) of studio apartments in the Queens county that is greater than 1200 units.

The number of leased studio apartments will be less than 1200 units.

All of the above.

None of the above.