Consider the Figure Above

question 41

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

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Definitions:

Federal Government

The national government of a sovereign state, responsible for the governance of the country as a whole.

Restrictions

Restrictions are limitations or conditions placed on something, such as legal agreements, to control or direct its use or activities.

Eminent Domain

The right of a government or its agent to expropriate private property for public use, with compensation.

Inherent Power

The authority possessed by a sovereign state or government without needing to be granted by a law, deriving from the very nature of the government's existence.