Multiple Choice
The argument that demand for apartments is inelastic in the short run is based on the idea that
A) it is costly to move to a different location.
B) it takes time to build new apartments.
C) people will change apartments quickly when there are small changes in rent.
D) landlords will fix up many new apartments when there are small changes in rent.
Correct Answer:
Verified
Correct Answer:
Verified
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