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(Figure: Rent Controls in the Market for Apartments in New York City) Use Figure: Rent Controls in the Market for Apartments in New York City.
(Figure: Rent Controls in the Market for Apartments in New York City) Use Figure: Rent Controls in the Market for Apartments in New York City. Without rent controls, the equilibrium quantity of rental units is: A graph plots Rent, per period, on the vertical axis versus Quantity of rental units, per period, on the horizontal axis and shows a supply curve intersecting a demand curve. The vertical axis ranges from 500 to 1400 dollars, in increments of 100 dollars. The horizontal axis ranges from 1.5 to 2.6, in increments of 0.1. The supply curve S is a positive sloping line that starts at (1.6, 600) and ends at about (2.4, 1400). The demand curve D is a negative sloping line that starts at (1.6, 1400) and ends at (2.4, 600), intersecting the supply curve at (2.0, 1000). a. 1.9 million. b. 2.2 million. c. 2.0 million. d. 2.1 million
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