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Using demand and supply models, illustrate the shortage of rental properties (if any) and changes in rent from December quarter of 2022 to December quarter
Using demand and supply models, illustrate the shortage of rental properties (if any) and changes in rent from December quarter of 2022 to December quarter of 2023. (Note: Unlike Task 1 #1, here you do not need to use real data. As such, use p1 and q1 to represent the initial rent and quantity, respectively; and p2 and q2 as the new rent and quantity, respectively). (Task 2 relates to CRA #1, 4 and 5)
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