Figure 4-2

question 115

Multiple Choice

Figure 4-2
-Refer to Figure 4-2.Suppose Phil and Miss Kay are the only consumers in the market.If the price is $10,then the market quantity demanded is

• A)0 units.
• B)2 units.
• C)4 units.
• D)6 units.

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Definitions:

Real Property

Land, and generally whatever is erected or growing upon or affixed to land, including buildings and crops.

Apartment House

A residential building containing multiple apartment units owned by an individual or company, often rented to tenants.

Leases Expire

The conclusion of a lease agreement's term, after which the tenant must either vacate the property or negotiate a renewal of the lease.

Tenants

are individuals or groups who occupy or hold a land or property rented from a landlord under a lease.