The graph shows the demand for and supply of rental housing in Townsville.

If the rent ceiling is $300 a month, what is the quantity rented, the shortage of housing, and the maximum price that someone is willing to pay for the last unit of housing available?

Draw a line that shows a rent ceiling set at $300 a month. Label it.

Draw a point to show the quantity of housing rented and the rent. Label the point 1.

Draw an arrow to show at the rent charged the housing shortage created by the rent ceiling.

Draw a point to indicate the maximum price that someone is willing to pay for the last unit available. Label it 2.