Question: please answer b, c, and d thank you Suppose that the demand and supply schedules for rental apar given in the table below. Monthly Rent

please answer b, c, and d thank you
please answer b, c, and d thank you Suppose that the demand

Suppose that the demand and supply schedules for rental apar given in the table below. Monthly Rent $2500 2000 1500 1000 500 Apartments Demanded 10,000 12,500 15,000 17.500 20.000 Apartments Supplied 15,000 12,500 10.000 7500 5000 a. What is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied? equilibrium rental price = 2,000 equilibrium demanded and supplied = 12,500 b. If the local government can enforce a rent-control law that sets the maximum monthly rent at $1500, will there be a surplus or a shortage? Of how many units? And how many units will actually be rented each month? c. Suppose that a new government is elected that wants to keep out the poor. It declares that the minimum rent that can be charged is $2500 per month. If the government can enforce that price floor, will there be a surplus or a shortage? Of how many units? And how many units will actually be rented each month? 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 units housing would the government have to increase the supply of housing in order to get the market equilibrium rental price to fall to $1500 per month? To $1000 per month? To $500 per month

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