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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At a price of $300, the quantity demanded would be 100 apartments and the quantity supplied would only be 50 apartments. This means there would be a shortage of 50 apartments.

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