If rent control is established at $1,550, what would be the amount of disequilibrium in the apartment market? there would be a shortage of 28,990 apartments. there would be a surplus of 28,990 apartments that is reduced, over time, as individuals rent apartments in the illegal black market. there would be neither a shortage nor a surplus. there would be a surplus of 28,990 apartments that is eliminated through individuals renting apartments in the illegal black market. there would be a surplus of 28,990 apartments that increases as houses and condominiums are converted into apartments.