Order the answer to: Suppose that we have 8…
| Question | (a) Plot the market demand curve in the following graph. (b) Suppose the supply of apartments is fixed at 5 units. In this case there is a whole range of prices that will be equilibrium prices. What is the highest price that would make the demand for apartments equal to 5 units? (c) What is the lowest price that would make the market demand equal to 5 units? (d) With a supply of 4 apartments, which of the people A??H end up getting apartments? (e) What if the supply of apartments increases to 6 units. What is the range of equilibrium prices? |
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| Subject | business-economics |
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