The table below gives the demand and supply schedules for on campus housing rooms offered by Nevets college in the 2021-2022 academic year. Rent Quantity Quantity dollars demanded supplied per room) (rooms) 500 2,500 2,000 550 2,250 2,000 600 2,000 2,000 650 1,750 2,000 700 1,500 2,000 750 1,250 2,000 Use this table to answer the following questions. 1. What is the efficient quantity of on campus housing rooms and the rent per room in the absence of any government intervention? Provide the exact figures as per the table. (1 mark)1,250 2,000 Use this table to answer the following questions. 1. What is the efficient quantity of on campus housing rooms and the rent per room in the absence of any government intervention? Provide the exact figures as per the table. (1 mark) 2. What if the government and College both feel that the market rent is too high, and want to make the price of on campus housing more affordable for students? Would you recommend that they impose a price floor OR a price ceiling to accomplish this, and using figures in the table, what price would you recommend as the appropriate rent? (2 marks) 3. If an effective price ceiling or price floor is imposed, based on the table and price (rent) that you recommended, identify if a shortage or surplus is created and specify its magnitude. (2 marks) Paragraph v BIUA EVEY + . . . ASUS