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Author Question: Sherry wants to rent an apartment. Although rents are below what she is willing to pay, she cannot ... (Read 100 times)

codyclark

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on: Jun 29, 2018
Sherry wants to rent an apartment. Although rents are below what she is willing to pay, she cannot find an apartment. Then after a month of searching, she finds an apartment but she has to pay an additional 1,000 to have the locks changed.
 
  Sherry has just experienced the effects of ________. A) a rent floor with a black market
  B) inelastic demand
  C) a market working efficiently
  D) a rent ceiling

Question 2

If the demand curve for a good is a downward sloping straight line, the demand for the good will be more price elastic the higher is the
 
  A) price of the good.
  B) price of complements.
  C) income of consumers.
  D) income elasticity of demand for that good.


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wilsonbho

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


codyclark

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

hollysheppard095

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Reply 3 on: Yesterday
:D TYSM

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