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Suppose that the demand and supply schedules for apartments in State College are as given in the following table. 2. Suppose that the demand and

Suppose that the demand and supply schedules for apartments in State College are as given in the following table.
2. Suppose that the demand and supply schedules for apartments in State College are as given in the following table. Monthly Rent Apartments Demanded Apartments Supplied $3,400 9000 $3,000 10500 $2,800 12000 $2,400 13500 $2,000 15000 $1 ,600 1 6500 $1 ,200 1 5000 a. What is the equilibrium rental price and the equilibrium number of apartments demanded and supplied? b. If the local government can enforce a law that requires the monthly rent to be $2,800 per month, will there be a surplus or shortage? 0f how many units

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