Question
A news story about the rental market for office space in big cities described the market as experiencing a glut and quoted a real estate
A news story about the rental market for office space in big cities described the market as experiencing a "glut" and quoted a real estate broker as stating, "We are moving into greater opportunities for [office] tenants." a. What does the article mean by a "glut"? What does a glut imply about the quantity of offices demanded relative to the quantity supplied? b. Is the real estate broker's observation that the market for office space was moving in a way that would result in greater opportunities for tenants connected to the fact that there was a glut in the market? Briefly explain. c. Briefly explain whether the glut in this market is likely to eventually disappear.
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