Goods that are rival in consumption and excludable would be considered

The figure above illustrates the current market for apartments in Washington, D.C

a. If the local government imposes a price ceiling of $1,500 per month, is there a shortage? If so, how much? If not, why not? b. If the local government imposes a price ceiling of $900 per month, is there a shortage? If so, how much? If not, why not?

When a market clearing price is determined

A) the exchange between buyers and sellers is voluntary. B) the exchange between buyers and sellers is directed by outside factors such as the government. C) the exchange between buyers and sellers benefits only the buyers. D) the exchange between buyers and sellers benefits only the sellers.