![]() ![]() Suppose the university is trying to determine the most efficient way to allocate the rooms such that those who value the rooms the most get them. Quantity supplied would exceed the quantity demanded, resulting in a shortage. Quantity demanded would exceed the quantity supplied, resulting in a shortage. Quantity demanded would exceed the quantity supplied, resulting in a surplus. Quantity supplied would exceed the quantity demanded, resulting in a surplus. If, instead, the university chooses to cap the price of rooms to $500 a month for students, the result would be that _. Suppose a new off-campus university apartment complex could rent its rooms on the open market for $900 a month.
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