00:01
So this question is about price sailing, which means it keeps the price from raising about a certain level.
00:11
At this case, it's 500.
00:13
So no one can go beyond this price to rent their apartment.
00:20
And as we can see here, after setting this bar, the demand curve shift to the right.
00:32
From d0 to d1 so there is an increase in quantity demanded however no one can rent their units beyond this price so the supply curve will never change so there's no effect of the quantity supplied so before the the quantity mandate is 1500 and right now it's 1900 however the quantity is still 1500.
01:05
So there's a shortage from the price selling.
01:11
Why is it this is a case? because that we can never rate the core is that we can never reach this new equilibrium price, right? because no one can, there's no business can be done at this level, which is 600.
01:33
Is 600, only at 500.
01:37
So that's why the supply curve or the quantity supply that cannot reach the quantity demand date...