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If the Supply of Rental Housing Increases Causing Its Price

Question 96

Multiple Choice

If the supply of rental housing increases causing its price to fall and apartment dwellers move into bigger apartments that cost the same as their old ones, we can infer that the:


A) demand for apartments is elastic.
B) supply of apartments is elastic.
C) demand for apartments is unit elastic.
D) demand for apartments is inelastic.

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