Business, 18.09.2019 23:20, shavonfriend27

Suppose that the supply of new apartments is elastic, while the supply of new homes is inelastic. compare the results of a decrease in demand in both markets. a. the price and quantity of new apartments will change by more than the price and quantity of new houses. b. the price and quantity of new apartments will change by less than the price and quantity of new houses. c. the price of new apartments will change by more than the price of new houses. the quantity of new apartments will change by less than the quantity of new houses. d. the price of new apartments will change by less than the price of new houses. the quantity of new apartments will change by more than the quantity of new houses

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Suppose that the supply of new apartments is elastic, while the supply of new homes is inelastic. co...