Suppose that the demand and supply schedules for rental apartments in the city of Gotham are as given in the following table Monthly Rent Apartments Demanded Apartments Supplied $ 2,500 10,000 15,000 $ 2,000 12,500 12,500 $ 1,500 15,000 10,000 $ 1,000 17,500 7,500 $ 500 20,000 5,000 Instructions: Enter your answers as a whole number; at What is the market equilibrium rental price per month and the market equilibrium number ofapartments demanded and supplied? Market equilibrium rental price = $ Market equilibrium quantity = apartments b. If the local government can enforce a rentcontrol law that sets the maximum monthly rent at $1,500, will there be a surplus or a shortage? (Click to select) 3 Of how many units? apartments per month How many units will actually be rented each month? apartments c. Suppose that a new government is elected that wants to keep out the poor. It declares that the minimum rent that landlords can charge is $2,500 per month. If the government can enforce that price floor, will there be a surplus or a shortage? (Click to select) Of how many units? apartments per month And how many units will actually be rented each month? apartments d. Suppose that the government wishes to decrease the market equilibrium monthly rent by increasing the supply of housing. Assuming that demand remains unchanged, by how many additional units of housing would the government need to supply to get the market equilibrium rental price to fall to $1,500 per month? apartments To $1,000 per month? apartments To $500 per month? apartments