csps1 - b) What is the quantity of apartments that will be...

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13 400 1000 1200 Additional Problem #1 : Consumer and Producer Surplus The graph below shows the demand and supply of rental housing for Microtown. $/month S 800 600 200 D Quantity 0 1 2 3 4 5 6 (thousands/month) a) What is the equilibrium rent/month? ______________; the total rent/month at the equilibrium quantity of rental units? _______________; the consumer surplus? _______________; the producer surplus? _______________.
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Unformatted text preview: b) What is the quantity of apartments that will be rented if a price ceiling is set at $800? _________. What is the quantity of apartments that will be rented if a price ceiling is set at $400? _________. What is the consumer surplus given this price ceiling? _________________; the producer surplus? _______________; the dead weight loss? ____________________; the search cost for rental? ____________....
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