Question: The following table depicts the quantity demanded and quantity supplied of studio apartments in a small college town. What are the market price and equilibrium

The following table depicts the quantity demanded and quantity supplied of studio apartments in a small college town.

What are the market price and equilibrium quantity of apartments in this town? If this town imposes a rent control of $650 per month, how many studio apartments will be rented?

Monthly Rent Quantity Demanded Quantity Supplied $600 $650 $700 $750 $800 3,000 2,500 2,000 1,500 1,000 1,600 1,800 2,000 2,200 2,400

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