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Related to the Economics in Practice on Page 77: If

question 54

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Related to the Economics in Practice on page 77: If a hurricane results in the supply of hotel rooms decreasing and the demand for hotel rooms increases, the equilibrium price for hotel rooms ________ and the equilibrium quantity of hotel rooms ________.


Definitions:

Finding An Apartment

The process of searching for and securing a residential unit in a building or complex to live in.

Neighborhood

A geographical area, especially within a city or town, that forms a community of people living close to each other.

Patiently Waiting

The act of remaining calm and without complaint while anticipating or expecting something to happen.

Musical Hamilton

a popular American musical by Lin-Manuel Miranda, telling the story of American Founding Father Alexander Hamilton.

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