Use the following supply and demand curve for rental units in the town of Brooksville to answer questions 1 through 10.Click here for long descriptionWhich of the following would cause a surplus?A.A rent control law that sets the maximum rental price at $200B.A rent support that sets the minimum rental price at $200C.A rent support that sets the minimum rental price at $400D.A rent control law that sets the maximum rental price at $400

Market equilibrium rental price is $ per month.     Market equilibrium quantity is apartments.b. If the local government can enforce a rent-control law that sets the maximum monthly rent at $1,500, will there be a surplus or a shortage?     .     Of how many units?     apartments per month.

The manager of a 139139-unit apartment complex finds that all units are rented at a price of $2025$2025 per month. Research shows that for each $45$45 increase in rent, one additional unit remains vacant. How much should he charge for rent in order to bring in maximum revenue and how many units are rented then?

Suppose that the demand and supply schedules for rental apartments in the city of Gotham are as given in the table below.Instructions: Enter your answers as whole numbers.a. What is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied?     Market equilibrium rental price is $ per month.     Market equilibrium quantity is apartments.b. If the local government can enforce a rent-control law that sets the maximum monthly rent at $1,500, will there be a surplus or a shortage?     .     Of how many units?     apartments per month.     How many units will actually be rented each month?     apartments.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 $2,500 per month. If the government can enforce that price floor, will there be a surplus or a shortage?     .     Of how many units?     apartments per month.     How many units will actually be rented each month?     apartments.d. Start at the original (correct) equilibrium price and quantity in part a. 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 of housing would the government have to increase the supply of housing in order to get the market equilibrium rental price to fall to $1,500 per month?       units.     To $1,000 per month?     units.     To $500 per month?     units.

The demand for apartments is P = 1, 200 Q while the supply isP = Q units. The government imposes rent control at P =$300/month. Suppose demand grows in the market toP = 1, 400 Q. (LO7)a How is excess demand a↵ected by the growth in demand forapartments?b At what price would the government have to set the rentcontrol to keep excess demand at the same level as prior tothe growth in demand?TO BE DONE AT HOME

All units in a 100-unit apartment building are rented out when the monthly rent is set at r=$580/month. Suppose that one unit becomes vacant with each $10 increase in rent and that each occupied unit costs $80/month in maintenance. Which rent r maximizes monthly profit?