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Instructions: Enter your answers as a whole number. a. What is the market equilibrium rental price per month and the market equilibrium number of apartments

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Instructions: Enter your answers as a whole number. a. What is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied? Market equilibrium rental price=$ [: b. If the local government can enforce a rent-control law that sets the maximum monthly rent at $1,500, will there be a surplus or a shortage? (Click to select) v Of how many units? [ ]apartments per month How many units will actually be rented each month? [ ]epartments . Suppose that a new government is elected that wants to keep out the poor. It declares that the minimum rent that landlords can charge is $2,500 per month. If the government can enforce that price floor, will there be a surplus or a shortage? (Click to select) v

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