Suppose that the demand and supply schedules for rental apart. ments in the city of Gotham are as given in the following
table LO3.6
Monthly
Rent
$2.500
2.000
1.500
1.000
500
Apartments Demanded
10.000
12.500
15.000
17.500
20.000
Apartments Supplied
15.000
12.500
10,000
7.500
5.000
1. What is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied
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