"When a Tenant Has Signed a Two-Year Lease and Then

question 93

Essay

"When a tenant has signed a two-year lease and then for some reason finds himself in the position where he has to leave,the landlord has an obligation to try to rent out the premises to someone else." Explain the accuracy of this statement.

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Definitions:

Supply Curves

A graphical representation of the relationship between the price of a good and the quantity of the good supplied by producers.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; in other words, when capital goods are distributed in the most beneficial manner among the population.

Production Possibilities Curve

A graphical representation that shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently utilized.

Competitive Markets

Markets where numerous producers and consumers interact, leading to efficient distribution of goods and services and price determination through supply and demand.