B. Suppose that the aggregate monthly demand curve is p 5 10,000 2 0.01x while the supply

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B. Suppose that the aggregate monthly demand curve is p 5 10,000 2 0.01x while the supply curve is p 5 1,000 1 0.002x. Suppose further that there are no income effects.

a. Calculate the equilibrium number of apartments x* and the equilibrium monthly rent p* in the absence of any price distortions.

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Microeconomics An Intuitive Approach With Calculus

ISBN: 9781337335652,9781337027632

2nd Edition

Authors: Thomas Nechyba

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Question Posted: Nov 05, 2024 04:01 AM

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B. Suppose that the aggregate monthly demand curve is p 5 10,000 2 0.01x while the supply

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Microeconomics An Intuitive Approach With Calculus

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