ineducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https9%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/kEZASsBKEPICNIAGR9/TAB3NGXOKSb.. # Lab | Saved Help Save & Exit Submit Suppose that the demand and supply schedules for rental apartments in the city of Gotham are as given in the table below. Monthly Apartments Rent Apartments Demanded Supplied $2, 560 10,060 15, Bee 2, 060 12, 500 12, 500 1,506 15, 060 10, 60e 1, 080 17,506 7,500 500 20, 080 5,008 a. What is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied? Market equilibrium rental price $ 2000 per month Market equilibrium quantity 12500 apartments b. If the municipal government can enforce a rent-control law that sets the maximum monthly rent at $1,500, will there be a surplus or a shortage? Shortage Of how many units? 5000 apartments per month How many units will actually be rented each month? D apartments will be rented c. Suppose that a new government wants to keep out the poor. It declares that the minimum rent that can be charged is $2,500 per month. If the government can enforce that price floor, will there be a surplus or a shortage? ME Prev. 1 of 93 Next > po D