Consider the Figure Above

question 4

Multiple Choice

Consider the figure above. If the demand for units increases, what would happen in equilibrium, holding everything else constant?

• A) Market rent would decrease; equilibrium occupancy would decrease
• B) Market rent would decrease; equilibrium occupancy would increase
• C) Market rent would increase; equilibrium occupancy would decrease
• D) Market rent would increase; equilibrium occupancy would increase
• E) Impossible to determine from the information provided

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Definitions:

Bathroom

A room containing a toilet and typically also a sink and either a bathtub or a shower, meant for personal hygiene activities.

Primary Aging

The gradual, inevitable process of bodily deterioration that occurs throughout life, independent of external factors.

Age-related Changes

Physical, cognitive, and emotional transformations that occur as a person moves through different stages of life.

Irreversible Changes

Refers to changes that cannot be undone or reverted to their original state.