Assume there is a remote area in china with high population.The area is composed exclusively of apartments and is populated by low-income residents .The people tend to stay in that area because
(1) They cannot afford to live in other areas in China,
(2) They prefer to live with people of their own ethnic group,or
(3) There is discrimination against them in other areas.Rents paid are a very high percent of people'' income.

a. would the demand for apartments in this area be relatively inelastic or relatively elastic? state why

Posted Date: 10/9/2012 8:03:57 AM | Location : United States

Ask an Expert

Related Discussions:- determinant of price elasticity of supply, Assignment Help, Ask Question on determinant of price elasticity of supply, Get Answer, Expert's Help, determinant of price elasticity of supply Discussions

Write discussion on determinant of price elasticity of supply
Your posts are moderated

Write your message here..

Related Questions

Estimation of national income, ESTIMATION OF NATIONAL INCOME: In India... ESTIMATION OF NATIONAL INCOME: In India, the first attempt to estimate national income and per capita income was made in the year 1867-68 by Shri Dadabhai Naoroji. This was fo

Banking, what is fractional reserve and how does it affect money supply? what is fractional reserve and how does it affect money supply?

Natural factors and availability of credit, Natural Factors: Seasonal va... Natural Factors: Seasonal variations may affect the demand for a commodity at certain times of the year. For example, during the raining season, demand for commodities such as j

Homework, There are six potential customers of computer games, each willing... There are six potential customers of computer games, each willing to buy only one game Consumer 1 is willing to pay $40, Consumer 2 is willing to pay $35, consumer 3 is willing to

Performance of public sector enterprises, Performance of Public Sector Ente... Performance of Public Sector Enterprises: Data reveal that the performance of the much-maligned public enterprises has shown a distinct improvement during the last 9 years. Gr

International trade, International trade: International trade refers t... International trade: International trade refers to the exchange of goods and services between countries. Goods sold to other countries are referred to as exports and goods bou

Define structural isomers and its types, Define structural isomers and its ... Define structural isomers and its types Coordination compounds that having same compositions but the different bonding attachments. Types of structural isomers Hydration isomers

Engel curve, graphic graphic

Co-ordinate covalent compound, assignment assignment

Pure competition markets, what is pure competition markets? what is pure competition markets?