As the baby boom generation continues to age,what will happen to the equilibrium price and quantity of homes in retirement communities?
A)Price will increase,quantity will decrease
B)Price will increase,quantity will increase
C)Price will decrease,quantity will decrease
D)Price will decrease,quantity will increase
E)The new equilibrium price and quantity can not be determined

Question

Quizplus · Accepted Answer

As the baby boom generation ages, there will be an increased demand for retirement communities, leading to an increase in the equilibrium price and quantity of homes in these communities. This is because as more people in the baby boom generation retire and choose to move to retirement communities, the demand for these homes will increase. The increase in demand will lead to an increase in the price of these homes, as well as an increase in the quantity of homes being sold.

As the Baby Boom Generation Continues to Age,what Will Happen