FIGURE 3- 4
-Refer to Figure 3- 4. If the price of 1- bedroom apartments in Collegetown were $300, there would be a of apartments.

Name: FIGURE 3- 4 -Refer to Figure 3- 4. If the price of 1- bedroom apartments in Collegetown were $300, there would be a of apartments.
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Question

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If the price is set at $300, which is below the equilibrium price, the quantity demanded will exceed the quantity supplied, resulting in a shortage of 100 apartments.

FIGURE 3- 4 -Refer to Figure 3- 4. If the Price of 1-