Draw a correctly labeled graph of a housing market in equilibrium. On your graph, illustrate an effective legal limit (ceiling) on rent. Identify the quantity of housing demanded, the quantity of housing supplied, and the size of the resulting surplus or shortage.

In the first picture I uploaded, I show the housing market equilibrium without any effective legal ceilings on rent. In this equilibrium, the quantity demanded and the quantity supply reach an equilibrum of 70, at a price of $1,100 per rent.

In the second picture I uploaded, we can see the price ceiling in red. The price ceiling does not allow the rent to reach equilibrium, which causes a demand of eighty houses, but a supply of sixty houses, leading to a housing shortage of 20 houses.

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.

answer; /// the use of a bank credit card to make purchase;