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Macmillan Learning
Equilibrium: Where Supply Meets Demand - End of
Chapter Problem
Rent
Quantity Demanded
Quantity Supplied
$2,000
5,000
23,000
$1,800
8,000
20,000
Consider the following data from the market demand and
supply for apartments.
$1,600
11,000
17,000
$1,400
14,000
14,000
a. Suppose that the average monthly rent for apartments is
$1,200
17,000
11,000
$1,200. At this price, how many apartments will be rented in
this market?
$1,000
20,000
8,000