Ask Question
BusinessBusiness
11 January, 20:56

In your college town, real estate developers are building thousands of new student-friendly apartments close to campus. If you want to pay the lowest rent possible, should you hope that demand for apartments is elastic or inelastic?

+5
Answers (1)
  1. 11 January, 21:05
    0
    Elastic

    Explanation:

    Elasticity is an economic concept used to measure the change in the aggregate quantity demanded for a good or service in relation to price movements of that good or service. A product is considered to be elastic if the quantity demand of the product changes drastically when its price increases or decreases. Conversely, a product is considered to be inelastic if the quantity demand of the product changes very little when its price fluctuates.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “In your college town, real estate developers are building thousands of new student-friendly apartments close to campus. If you want to pay ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
If total revenue rises as a result of a decrease in the price of a given good, it follows that demand is
Answers (1)
A hotel in Florida has instituted a policy to hire individuals living in close proximity to the hotel premises to reduce instances of employees coming in late.
Answers (1)
Which best describes how an investor makes money off debt? by selling the debt by earning interest by raising capital by being repaid for the principal
Answers (1)
An outside broker locates a seller for a buyer representative's client. In this instance, the outside broker is acting as
Answers (1)
Shannon is an officer for Turista Shirts Corporation. Due to a bad business decision, made on a reasonable basis, on Shannon's part, the company's sales decrease. Shannon is most likely liable for breach of:
Answers (1)
New Questions in Business
Assume an economy where there are two producers: a wheat producer and a bread producer. In a given year, the wheat producer grows 30 million bushels of wheat of which 25 million bushels are sold to the bread producer at $3 per bushel, and 5 million
Answers (1)
A company is just getting started and needs new equipment, but does not have a large amount of cash. Since the company business will also require frequent updating of the equipment, it is better to
Answers (1)
4. Boeing just signed a contract to sell a Boeing 737 aircraft to Air France. Air France will be billed €20 million which is payable in one year. The current spot exchange rate is $1.05/€ and the one-year forward rate is $1.10/€.
Answers (1)
You want to determine the control lines for a "p" chart for quality control purposes. If the total number of defects from all samples is 560, the number of samples is 70, and the sample size is 80, which of the following would be the standard
Answers (1)
Webster corporation is preparing its cash budget for april. the march 31 cash balance is $37,000. cash receipts are expected to be $647,000 and cash payments for purchases are expected to be $614,500.
Answers (1)
Home » Business » In your college town, real estate developers are building thousands of new student-friendly apartments close to campus. If you want to pay the lowest rent possible, should you hope that demand for apartments is elastic or inelastic?
Sign Up Forgot Password?