Some cities impose rent control laws, which are price controls or limits on the price of rental accommodations (apartments, houses, and mobile homes). New York City alone had over two million rentcontrolled apartments in the early 1950s, but only about 27,000 as of 2014. Showvthe effect of a rent control law on the equilibrium rental price and the quantity of NY. apartments. Show the amount of excess demand on your supply-and-demand diagram.