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s Price Price Celling Apartment Units (in Thousands) In the market for housing, the local government imposes a price ceiling on apartment unit rentals as

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Price Price Celling 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 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 QUESTION NOTE: You must refer to question #above to answer this question. In question #16 above there is a of apartments. O Surplus of 20,000 O Shortage of 20,000 Shortage of 40,000 O Shortage of 10,000

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