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The Argument That Supply for Apartments Is More Elastic in the Long

Question 31

Multiple Choice

The argument that supply for apartments is more elastic in the long run is based on the idea that


A) it is costly to move to a different location.
B) it takes time to refurbish existing apartments or build new ones.
C) people will change apartments quickly when there are small changes in rent.
D) landlords will rent only what they have.

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