Home » Suppose that the supply and demand schedules for rental apartments in the city of Gotham are given as : Monthly rent Apartments Demanded

# Suppose that the supply and demand schedules for rental apartments in the city of Gotham are given as : Monthly rent Apartments Demanded

I need help with the four parts to this rental apartment question

Suppose that the supply and demand schedules for rental apartments in the city ofGotham are given as :”Monthly rentApartments DemandedApartments Supplied\$2500100001500020001250012500150015000100001000175007500500200005000Answer the followingA . What is the market equilibrium rental price per monthAt this price does the quantity demanded = quantity supplied ?”( yesor no )What is the market equilibrium quantity ?”B. If a city decides to “Keep Out the Poor” and decides to set the MINIMUM at \$2500 amonth , will there be a shortage or surplus ?”Of how many units ?How many units will actually be rented ?!C . A city decides to ” Help the Poor ” . If the local government can enforce a rent -controllaw that sets the MAXIMUM monthly rent at \$1500 , will there be a shortage or surplus ?”Of how many units ?!How many units will actually be rented ?!D. The city is still trying to ” Help the Poor “. The local government wishes to lower themonthly rent but decides to increase the supply of housing by subsidizing builders tobuild low rent apartments . Assume demand does not change . If the government gives a\$ 1000 subsidy to the builders what is the new equilibrium rent and number of apartmentsrented . rent =number of apartments =

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