Answer to Question #96423 in Microeconomics for Siaw Bright

Question #96423
In your college town, real estate developers are building thousands of new student-friendly
apartments close to campus. if you want to pay the lowest rent possible, should you hope
that demand is elastic or inelastic?
a. elastic
b. inelastic
1
Expert's answer
2019-10-14T08:59:55-0400

it is elastic because in elastic demand the quantity demanded responds to price changes in a greater than proportional manner


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