A Canadian university’s business program has the facilities and faculty to handle an enrollment of 2000 new students per semester. However, in an effort to limit class sizes to a “reasonable” level (under 200, generally), the university’s registrar, Tom Choi, placed a ceiling on enrollment of 1500 new students. Although there was ample demand for business courses last semester, conflicting schedules allowed only 1450 new students to take business courses. What are the utilization and efficiency of this system?