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The table shows the demand and supply schedules for on-campus housing. Rent Quantity Quantity Suppose that with a strictly enforced rent ceiling of $250 a

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The table shows the demand and supply schedules for on-campus housing. Rent Quantity Quantity Suppose that with a strictly enforced rent ceiling of $250 a month, an illicit market develops. (dollars demanded supplied per room) (rooms) How high might the illicit market rent be? 250 5,000 4,500 Would the on-campus housing market be fair? 275 4,500 4,500 300 4,000 4,500 325 3,500 4,500 350 3,000 4,500 Suppose that with a strictly enforced rent ceilings of $250 a month and an illicit market develops. 375 2,500 4,500 The rent in the illicit market may be as high as $ a month. If an illicit market develops, the housing market is according to the fair results view of fairness and according to the fair rules view of fairness. O A. fair; unfair O B. fair; fair O C. unfair; unfair O D. unfair; fair

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