Question
In a small city, the supply of apartments is Q S = 12000 + 0.5P, and the demand is Q D = 15600 - 2.5P,
In a small city, the supply of apartments is QS= 12000 + 0.5P, and the demand is QD= 15600 - 2.5P, where P is the rent per month. The city has introduced a rent control ordinance that imposes a maximum monthly rent of rent of $1600. Under these conditions, the number of occupied apartments will be
Group of answer choices
12800
12000
12600
11600
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Microeconomics
Authors: Paul Krugman, Robin Wells
5th edition
1319098780, 1319098789, 978-1319098780
