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QUESTION 5 $800 $700 $600 Pric $500 $400 Price Ceiling $300 $200 $100 10 20 30 40 50 60 70 80 90 20 Apartment Units
QUESTION 5 $800 $700 $600 Pric $500 $400 Price Ceiling $300 $200 $100 10 20 30 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 illustrated in the graph above. At the price ceiling, what happens to each of the following questions below? Quantity Demanded Quantity Supplied Use the worksheet to solve this problem then select your answer from ONE of the four choice below. O Quantity Demanded = 40,000 Quantity Supplied = 20,000 O Quantity Demanded = 20,000 Quantity Supplied = 60,000 O Quantity Demanded = 50,000 Quantity Supplied = 30,000 O Quantity Demanded = 10,000 Quantity Supplied = 70,000 QUESTION 6 In question #5 above there is a of apartments
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