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Consider a competitive market for apartments. What would be the effect on the equilibrium output and price after the following changes (other things held equal)?
Consider a competitive market for apartments. What would be the effect on the equilibrium output and price after the following changes (other things held equal)? In each case, explain your answer using supply and demand. a. A rise in the income of consumers b. A BDT 500-per-month tax on apartment rentals c. A government verdict saying apartments cannot rent for more than BDT 15000 per month d. A new construction technique allowing apartments to be built at half the cost e. A 20 percent increase in the wages of construction workers
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