Suppose the equilibrium rent in Denver is $1,050.A rent ceiling of $755 per month leads to

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The rent ceiling of $755 per month is below the equilibrium rent of $1,050 per month. This means that landlords will not be willing to supply as much housing at the lower price, leading to a decrease in the quantity of apartments supplied. However, renters will demand more housing at the lower price, leading to an increase in the quantity of apartments demanded. As a result, there will be a shortage of apartments in Denver.

Suppose the Equilibrium Rent in Denver Is $1,050