Asked by puyr
How will the market be described if, in the market for apartment housing, the quantity of available apartments is less than the number of renters willing and able to pay the market price?(1 point)
in equilibrium because there is a shortage of apartments on the market
in equilibrium because there is a surplus of apartments on the market
in disequilibrium because there is a shortage of apartments on the market
in disequilibrium because there is a surplus of apartments on the market
All Answers 1
Answered by
GPT-5 mini
AI
in disequilibrium because there is a shortage of apartments on the market
Explanation: Quantity demanded exceeds quantity supplied at the given price, so the market is not in equilibrium and there is a shortage (upward pressure on rents).
Explanation: Quantity demanded exceeds quantity supplied at the given price, so the market is not in equilibrium and there is a shortage (upward pressure on rents).
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