Use the following information to answer the next 2 questions.
Suppose demand for apartments in a metropolitan area is: #Apt.units=60,000 +0.30)# households)-80)*$Rent/unit/mo.)
-In the question above, suppose the number of apartment units remained at 88,000 while the number of households grew from 200,000 to 220,000. To what level would real rents rise?

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The Answer of Use the following information to answer the next 2 questions.
Suppose demand for apartments in a metropolitan area is: #Apt.units=60,000 +0.30)# households)-80)*$Rent/unit/mo.)
-In the question above, suppose the number of apartment units remained at 88,000 while the number of households grew from 200,000 to 220,000. To what level would real rents rise?

Use the Following Information to Answer the Next 2 Questions