Assume the figure to the right illustrates the market for houses for sale in a small city. Suppose the market price of houses is $200,000. How large will the resulting surplus be?
At a price of $200,000, there will be _ surplus houses. (Enter your response as a whole number.)
What is the equilibrium price of houses?
The equilibrium price is $_. (Enter your response as a whole number.)

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.

:; )write a paragraph of two to three sentences and describe what will happen to a society that does not have a productive workforce?

Utilization will always be lower than efficiency because: a. effective capacity is greater than design capacityb. expected output is less than actual output.c. effective capacity equals design capacity.d. effective capacity is less than design capacity.e. expected output is less than rated capacity.