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| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1324 |
Essay's paper body
The new company increased the cities population therefore increased the demand for apartments with temporary month-to-month leases. The increase in residents placed a demand on apartments, but did not affect the supply of the apartments, therefore, the demand curve shifts to the right. Rental rates are increased, as the demand for apartments is greater than the quantity of apartments supplied...
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The increase in residents placed a demand on apartments, but did not affect the supply of the apartments, therefore, the demand curve shifts to the right. Rental rates are increased, as the demand for apartments is greater than the quantity of apartments supplied. Because rates are increased, demand decreases and supply increases leading to a reduction in the apartment shortage...
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