(Solved): Assume the figure to the right illustrates the market for houses for sale in a small city. Suppose ...

Assume the figure to the right illustrates the market for houses for sale in a small city. Suppose the market price of houses is \( \$ 225,000 \). How large will the resulting surplus be? At a price of \( \$ 225,000 \), 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.)