Consider the market for new flats. What will be effect on demand and supply if flat living becomes more fashionable?

Question

Quizplus · Accepted Answer

When flat living becomes more fashionable, more people will want to live in flats, increasing the demand for new flats. This is represented by a rightward shift in the demand curve. The supply of new flats, however, is not directly affected by changes in fashion, so there is no shift in the supply curve.

Consider the Market for New Flats