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Some cities impose rent control laws, which are price controls or limits on the price of rental accommodations (apartments, houses, and mobile homes). New York City alone had over two million rent-controlled apartments in the early 1950s, but onty about 27,000 as of 2014. Show the effect of a rent control law on the equilibrium rental price and the quantity of N.Y apartments Show the amount of excess demand on your supply-and-demand diagram Consider the market rental dellings in New York illustrated in the figure to the right Suppose the maximum rent with New Yorks laws is p 1.) Using the point drawing tool, indicate the quantity of rental dwellings demanded and the market rent with the rent control laws. Label this point ed 2) Using the point drawing tool, indicate the quanlity of rental owesings suppled and the market rent with the rent controi laws. Label this pointe, carefuiy folow the instructions above, and only graw the required objects
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Answer #1

Excess demand is difference between q_d & q_s

That is difference between e_d & e_s/6s T73 tanket Rent with Rental auss: p个 DD9 demanded es edー & Supplted

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