QUESTION 16 $700 5600 Price $500 $400 Price Ceiling $300 $200 $100 10 20 0 40 50 60 70 80 90 20 Apartment Units (in Thousands) In the market for housing, the local government imposes a price ceiling on apartment unit rentals as indicated in the graph above. At the price ceiling, what happens to each of the following questions below? Quantity Demanded Quantity Supplied O Quantity Demanded = 40,000 Quantity Supplied = 20,000 O Quantity Demanded = 50,000 Quantity Supplied = 30,000 O Quantity Demanded = 20,000 Quantity Supplied = 60,000 O Quantity Demanded = 10,000 Quantity Supplied = 70,000