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What might be her likely long-run response

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Question: Maria rents on a month-to-month basis an apartment that she can barely afford, in a market where apartments are hard to find. Her landlord announces that she is doubling the rent, effective immediately. What is likely to be Maria's short-run response (say, over the next few days or weeks)? What might be her likely long-run response (over the next few months)?

Reference no: EM131580564

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