Three friends, Ariel, Idris, and Ana live in different apartment buildings, where each pays a rent corresponding to their willing-to-pay. Ariel's rent (and willingness-to-pay) is $5,500 per month; that of Idris is $4,000, and that of Ana is $2,500. Additionally, each of the three rents is an equilibrium rent, since each matches the willingness-to-sell of the respective apartment building. If the city now imposes a rent ceiling (rent control) of $3,500, how would each of the three friends be affected?
Ariel would have to move; Idris and Ana will continue to live as before.
Ariel and Idris would both have to move; Ana will continue to live as before.
Idris and Ana would have to move; Ariel will continue to live as before.
All the three friends would have to move.