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
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
Chapter5: Markets In Motion And Price Controls
Section: Chapter Questions
Problem 4P
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