What is the market equilibrium rental price per month

Reference no: EM13240023

Suppose the demand and supply schedules for rental apartment in the city of Gotham are given below Monthly Rent $2500 $2000 $1500 $1000 $500 Apartment Demanded 10,000 12,500 15,000 17,500 20,000 Apartment Supplied 15,000 12,500 10,000 7,500 5,000 What is the market equilibrium rental price per month and the equilibrium number of apartments demanded and supplied ?

Reference no: EM13240023

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