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Answer to Question #128935 in Microeconomics for shahzaib
Question #128935
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?
apartments close to campus. if you want to pay the lowest rent possible, should you hope
that demand is elastic or inelastic?
Expert's answer
Elastic demand because in elastic demand the price impacts quantity demanded.
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