A local university decides to double its enrollment over the next five years in order to increase tuition revenue. Which of the following would most likely occur in the market for rental housing in the surrounding community?
A) a decrease in the price of rental housing
B) an increase in the demand for rental housing
C) a decrease in the supply of rental housing
D) A population change leads to a change in quantity demanded, not demand.

Question

Quizplus · Accepted Answer

With an increase in enrollment, there will be a higher demand for rental housing from students and faculty members who need to live in the surrounding community. This increase in demand will likely lead to an increase in rental prices as well.

A Local University Decides to Double Its Enrollment Over the Next