Question
What was the effect of supply and demand on NYC office space after 9/11? Of course, in economics we have a number of different cases
What was the effect of supply and demand on NYC office space after 9/11?
Of course, in economics we have a number of different cases where we say or claim that supply and demand go up, or supply and demand shifts, or there's some sort of exogenous reason why incomes go up or something happens. Actually, the tragedy of 9/11 gives us an example of a truly exogenous reason why supply and demand might shift. So we want to go through a little bit of a thought experiment. We had a number of terrorist attacks in New York that day in 9/11, and we had a dramatic shift then in both supply and demand. So take a few minutes and jot down what you think were the effects of supply and demand on New York office space after we had the 9/11 attacks in New York City.
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