Answer to Question #80714 in Microeconomics for Diamond Phan

Question #80714
1) What effect would a rule stating that university students must live in university dormitories have on the price elasticity of demand for dormitory space?
2) What impact might this in turn have on room rates?
3) When would you want to own a business that sells products that face elastic demand? Explain.
1
Expert's answer
2018-09-10T13:02:36-0400
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