What is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied Custom Essay

Suppose that the claim and afford schedules coercion schismal apartments in the city of Gotham are as dedicated in the table adown.

a. What is the dispense equilibrium schismal figure per month and the dispense equilibrium calculate of apartments claimed and provided?
b. If the national council can exact a schism-control jurisdiction that sets the zenith monthly schism at $1500, procure there be a rest or a shortage? Of how frequent units? And how frequent units procure substantially be schismed each month?
c. Suppose that a novel council is elected that wants to restrain extinguished the inconsiderable. It declares that the reserve schism that can be teeming is $2500 per month. If the council can exact that figure sole, procure there be a rest or a shortage? Of how frequent units? And how frequent units procure substantially be schismed each month?
d. Suppose that the council wishes to diminish the dispense equilibrium monthly schism by increasing the afford of housing. Assuming that claim scum unchanged, by how frequent units of housing would the council keep to extension the afford of housing in appoint to procure the dispense equilibrium schismal figure to droop to $1500 per month? To $1000 per month? To $500 per month?

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