Consider the rental market for apartments depicted below. Suppose excess supply at P3 is 39 units. What is Q₂ ?

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
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Consider the rental market for apartments depicted below.
Suppose excess supply at P3 is 39 units.
What is Q2 ?
Rental Market
Market
Quantity Demanded
Demand
Price
55
Dwight
Ronald
George
Warren
Calvin
3
Theodore
6
12
50
45
2
3
4
26
5
5
14
35
40
3
3
6
16
40
30
5
10
18
45
25
4
12
14
15
20
52
58
68
P3
20
3
4
6
9
22
15
3
7
10
24
10
4
9
16
11
26
73
4
8
10
17
12
28
79
Market
Quantity Supplied
Supply
Price
Barrack
Bill
Robert
Harry
Jimmy
Lyndon
17
16
P2
55
28
26
12
11
10
79
50
16
4
80
45
24
10
15
15
14
74
40
22
14
4
66
30
17
6
4
45
2
2
2
25
17
6.
3
3
40
20
15
16
8
8
3
43
13
35
10
12
4
4
2
27
2
Transcribed Image Text:Consider the rental market for apartments depicted below. Suppose excess supply at P3 is 39 units. What is Q2 ? Rental Market Market Quantity Demanded Demand Price 55 Dwight Ronald George Warren Calvin 3 Theodore 6 12 50 45 2 3 4 26 5 5 14 35 40 3 3 6 16 40 30 5 10 18 45 25 4 12 14 15 20 52 58 68 P3 20 3 4 6 9 22 15 3 7 10 24 10 4 9 16 11 26 73 4 8 10 17 12 28 79 Market Quantity Supplied Supply Price Barrack Bill Robert Harry Jimmy Lyndon 17 16 P2 55 28 26 12 11 10 79 50 16 4 80 45 24 10 15 15 14 74 40 22 14 4 66 30 17 6 4 45 2 2 2 25 17 6. 3 3 40 20 15 16 8 8 3 43 13 35 10 12 4 4 2 27 2
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