4 The table gives the demand for and supply of waiters.

Wage rate

(dollars per hour)

10 Quantity Quantity demanded supplied

(hours per month)

10,000 4,000 D

0 10 20 30 40 Quantity (thousands)

11 8,000 6,000 What are the equilibrium rent and 12 6,000 8,000 equilibrium quantity of rental housing?

13 4,000 10,000 14 2,000 12,000