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The figure to the right shows the market for one-bedroom apartments in Calgary. If this market is initially unregulated, 50 Rental Housing Market thousand units will rent for a price of $ 610 per month. Sshort run Suppose however, the city imposes the controlled price shown in the figure. In this case, in the short run, the market experiences an of thousand units. Slong run excess Rental Price ($ per month) Controlled Price 490- - - demand supply D 24 50 60 Quantity of Rental Units (Thousands)