Demand for Single Occupancy Apartments Is Qd = 400,000 -

question 68

Multiple Choice

Demand for single occupancy apartments is Qd = 400,000 - 250P. Supply is given by Qs = 200,000 + 250P. Price of an apartment is measured in hundreds of dollars and quantity is measured in thousands of apartments. What is equilibrium rent and quantity of apartments rented?

• A) $400 and 300,000 apartments, respectively
• B) $800 and 200,000 apartments, respectively
• C) $800 and 400,000 apartments, respectively
• D) $1,200 and 500,000 apartments, respectively

---

Definitions:

Correlation Coefficient

A statistical measure that calculates the strength and direction of a linear relationship between two quantitative variables.

Statistical Measure

A quantifiable value used to summarize or describe a set of data.

Meta-Analysis

A statistical technique that combines the results of multiple studies to derive a more comprehensive understanding of a particular research question.

Political Attitudes

Relates to the collection of feelings, beliefs, and thoughts about political issues, figures, and institutions.