1. If the college puts a rent ceiling on rooms of $650 a month, what is the rent, how many rooms are rented, and is the on-campus housing market efficient, which shows the demand for on-campus housing, to work Problems 4 to 6. The college has 200 rooms to rent.

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 is the on-campus housing market efficient? Explain why or why not.

3. Suppose that with a strictly enforced rent ceiling on rooms of $550 a month, a black market develops. How high could the black market rent be and would the on-campus housing market be fair? Explain your answer.