The table shows the demand and supply schedules for on-campus housing. CO If the college puts a rent ceiling on rooms of $375 a month, rent is $ and the number of rooms rented is The on-campus housing market is Rent (dollars per month) 250 275 300 325 350 375 Quantity demanded 2,500 2.250 2,000 1,750 1,500 1,250 (rooms) Quantity supplied 1,750 1,750 1,750 1,750 1,750 1,750

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter5: Markets In Motion And Price Controls
Section: Chapter Questions
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The table shows the demand and supply schedules for on-campus housing.
CO
If the college puts a rent ceiling on rooms of $375 a month, rent is $ and the number of rooms rented is
The on-campus housing market is
Rent
(dollars per month)
250
275
300
325
350
375
Quantity
demanded
2,500
2.250
2,000
1,750
1,500
1,250
(rooms)
Quantity
supplied
1,750
1,750
1,750
1,750
1,750
1,750
Transcribed Image Text:The table shows the demand and supply schedules for on-campus housing. CO If the college puts a rent ceiling on rooms of $375 a month, rent is $ and the number of rooms rented is The on-campus housing market is Rent (dollars per month) 250 275 300 325 350 375 Quantity demanded 2,500 2.250 2,000 1,750 1,500 1,250 (rooms) Quantity supplied 1,750 1,750 1,750 1,750 1,750 1,750
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