2. If the college puts a strictly enforced rent ceiling on rooms of

$550 a month, what is the rent, how many rooms are rented, and Table 2 Table 2 shows the demand and supply schedules for student workers at on-campus venues. Use Table 2 to work Problems 4 to 6 .

Wage rate (dollars per hour)

Quantity demanded Quantity supplied

(student workers)

10.00 600 300 10.50 500 350 11.00 400 400 11.50 300 450 12.00 200 500 12.50 100 550 is the on-campus housing market efficient? Explain why or why not.