Effect of price elasticity of demand for dormitory space
Problem: What effect would a rule stating that university students must live in university dormitories have on the price elasticity of demand for dormitory space? How might this rule affect room rates?
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What effect would a rule stating that university students must live in university dormitories have on the price elasticity of demand for dormitory space?
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And Ginsburg wants to make the largest possible profit. Identify the conditions they would use to choose price and quantity for each goal and explain.
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