My questions refer to the first exercise in chapter one of Varian - Intermediate Microeconomics (9th edition). The exercise deals with an apartment rental market, an example explored in the first chapter. In the short run the supply curve is considered perfectly inelastic.
1 - If there are 24 apartments to rent, why isn't it the case that the equilibrium price is also in a range, like the 25 and 26 cases (Varian's answer is just 500)? If there are 24 apartments, there will also be just 24 renters when the price is in ]200, 500] and not only in 500, thus making the number of apartments supplied equal to the number of renters. Is this reasoning correct?
2 - What if the supply is even lower than 24? In the extreme case, with just one apartment being supplied, how can the value of 500 be called an equilibrium price (or the range ]200, 500] if I was correct) if there are a total of 25 people willing to pay the maximum value of 500, but only one person getting the apartment and 24 left out?
Ps: This problem was already approached in other 2 posts (What is the equilibrium price in this case? / Why is the equilibrium price not anything between 0 and 200?), but related to the 25 and 26 cases.