o Imagine a city implements a price ceiling on apartment rentals to make housing more affordable. The equilibrium monthly rent without government intervention is $1,200, with 1,200 units of demand and supply. The government sets a price ceiling at $800. o Calculate the new quantity demanded and quantity supplied (assume demand increases to 1,500 units, while supply decreases to 1,000 units). o Calculate the shortage created by the price ceiling. o Illustrate the changes on a supply and demand graph, marking the equilibrium price, price ceiling, quantities demanded and supplied, and identify the area representing deadweight loss. would like to know if the chart is represented correctly in this drawing