Quantity of rentals per period

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Reference no: EM133616581

Question

Use Figure: Market for Apartments in New York City. The equilibrium rent (in $) and quantity of rentals (in millions) per period in the market for apartments is: A graph plots Rent, per period, on the vertical axis versus Quantity of rental units, per period, on the horizontal axis and shows a supply curve intersecting a demand curve. The vertical axis ranges from 500 to 1400 dollars, in increments of 100 dollars. The horizontal axis ranges from 1.5 to 2.6, in increments of 0.1. The supply curve S is a positive sloping line that starts at (1.6, 600) and ends at about (2.4, 1400). The demand curve D is a negative sloping line that starts at (1.6, 1400) and ends at (2.4, 600), intersecting the supply curve at (2.0, 1000). a. $1000, 2.6 millions units b. $1000, 2.0 millions units c. $1600, 2.0 millions units d. $2.0, 1000 million units

Reference no: EM133616581

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