Supply and demand analysis can be used not only to determine the market clearing price and quantity but also to estimate the impact of government policies and regulations. In this scenario, the local market has been impacted by the offshoring of production. With the loss of higher paying production jobs, displaced workers were forced to take on lower paying services jobs. With the decrease in income, the demand for housing decreased, but the demand for rental units increased. The data in Table 2 represent the current market for rental units. In order to help struggling families, the local government passed a rent control law that sets the maximum rent that can be charged at $2,000 per month. Before the mayor acts on the Common Counsel resolution, she has asked you as the Chief of Staff to prepare a brief document on the impact of imposing rent control
Please no written by hand and no emage
I have been sitting here trying to figure out how to do this, and I don't understand it and I really need some help please. I don’t even know how to draw the charts.
Table 2: Data for Scenario 2
| Price | Qd | Qs |
|---|---|---|
| $ 3,500 | 500 | 1500 |
| $ 3,000 | 750 | 1250 |
| $ 2,500 | 1000 | 1000 |
| $ 2,000 | 1250 | 750 |
| $ 1,500 | 1500 | 500 |
| $ 1,000 | 1750 | 250 |
Part A:
begin Scenario 2 by importing the data from Table 2into the template. In the box provided, insert a chart (Scatter with straight lines and markers) and title the chart Market for Rental Units. Properly label the axis and include a legend.
Part B:
Fill in the equilibrium table provided and label equilibrium E.
Part C:
Complete the
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