The rent control agency of New York City has found that aggregate demand is QD = 160 - 8P. Quantity is measured in tens of thousands of apartments. Price, the average monthly rental rate, is measured in hundreds of dollars. The agency also noted that the increase in Q at lower P results from more three-person families coming into the city from Long Island and demanding apartments. The city's board of realtors acknowledges that this is a good demand estimate and has shown that supply is QS = 70 + 7P.

1.What market adjustments may be observed in the long run if the rent control remains in place?

Complete the sentence by entering one of the following phrases or a numerical value (0.00 is acceptable) in the blank space provided:

in the irst blank space: increase | decrease?

in the second blank space: seeking to rent a two-bedroom apartment | not able to ind a two-bedroom apartment?

in the third blank space: enter | leave?

in the fourth blank space: an increase | a decrease?

in the fifth blank space: a numerical value?

Over time, demand may________ as families_________________would _________the city.

Ceteris paribus, the change in the city population would be _________ of ________ people.