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The table you provided shows data for "Apartments Demanded" and "Apartments Supplied" at different levels of "Monthly Rent." To find the equilibrium rent and quantity, we look for the point where the quantity demanded equals the quantity supplied. 

From the table:
- At a rent of $3,000 per month, **4,700** apartments are demanded and **4,700** apartments are supplied.

Thus, the **equilibrium rent** is **$3,000**, and the **equilibrium quantity** is **4,700 apartments per year**.

Would you like more details on this? Here are some related questions to expand your understanding:

1. What happens when the rent is set below the equilibrium price?
2. What is the excess supply if rent is set at $3,500?
3. How does the demand change as rent increases based on this table?
4. What is the economic significance of the equilibrium point?
5. How would a change in population affect the demand curve in this scenario?

**Tip:** The equilibrium price in a market occurs where the quantity demanded equals the quantity supplied, ensuring that the market clears with no shortages or surpluses.

Using the table provided, what is the equilibrium rent and quantity for this small city?

Determine the equilibrium rent and quantity in a small city using supply and demand data from a table. The table shows how the number of apartments demanded and supplied changes at various rent levels. Learn how to identify the equilibrium point where demand equals supply. This lesson is suitable for students in Grades 10-12.

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