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The pandemic has prevented many international students from travelling to Melbourne to study. Many of these students typically choose to live in apartments in and

The pandemic has prevented many international students from travelling to Melbourne to study. Many of these students typically choose to live in apartments in and around the Melbourne CBD. Use a demand and supply diagram for the rental market for apartments to help you to explain what is likely to happen to the rental price for these apartments and what is likely to happen to the quantity of apartments rented. It is a good idea to use a diagram to explain your answer.

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