For the past decade there has been an explosion in housing prices and rental rates. To combat the problem, TRADE minister Tjekero Tweya appointed a rent control board "aimed at regulating the rental market, with a view to prevent the current exploitation of tenants by landlords" (The Namibian Newspaper, 16 November, 2018). Suppose you are a newly hired research economist at the Ministry of Trade, Industrialization and SME Development and you are asked for advice by the Minister on the matter. Further suppose that the market for singe rooms looks as follows: Market supply: 9s = -400 + p Market demand: qa = 5,600 - 2p a) Find the equilibrium rental rate and output level (8 marks). b) Why do you think rental rates have skyrocketed for the past decade? (2 marks). c) Suppose the rent control board proposes a monthly rental ceiling of N$1,500 per single room, calculate the amount of shortage created by the rental control policy (6 marks). d) What is your advice to the Minister considering the current housing crisis?