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Tools of demand-supply to analyze policies

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Reference no: EM132649418

In this activity you will apply the tools of demand & supply to analyze policies.

Part 1. The following table depicts the quantity demanded and quantity supplied of studio apartments in a small college town.  7 Points

Monthly Rent Quantity Demanded Quantity Supplied

$600 3000 1600

$650 2500 1800

$700 2000 2000

$750 1500 2200

$800 1000 2400

  1. Explain what would happen if there was safety issue of renting the apartments resulting in the decrease to 700 units? What would be new equilibrium price and quantity.

Reference no: EM132649418

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