The fact that landlords are able to pass the majority,but not all,of the burden of property taxes on to renters suggests that the price elasticity of demand for apartments is

Question

Quizplus · Accepted Answer

The fact that landlords are able to pass on only the majority, but not all, of the burden of property taxes on to renters suggests that the demand for apartments is somewhat inelastic. This means that even though the prices of apartments may increase due to property taxes, renters are still willing to pay for them because they need a place to live, and there may not be many substitutes or alternatives available. However, the fact that landlords cannot pass on the entire burden of property taxes suggests that there may be some price sensitivity among renters, hence the demand for apartments is not perfectly inelastic.

The Fact That Landlords Are Able to Pass the Majority,but