ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Refer to the accompanying table to answer the next six questions.
Quantity of
Monthly Rent Apartment Demanded Apartments Supplied
78,100
83,760
87,900
94,250
98,450
118,500
125,600
Quantity of
$1,500
$1,550
$1,600
$1,650
$1,700
$1,750
136,500
112,750
107,000
100,100
98,450
95,000
92,800
$1.800
What is the market equilibrium quantity of apartments rented?
O a) 112,750
O b) 125,600
Oc) 107,000
O d) 98,450
O e) 118,500
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Transcribed Image Text:Refer to the accompanying table to answer the next six questions. Quantity of Monthly Rent Apartment Demanded Apartments Supplied 78,100 83,760 87,900 94,250 98,450 118,500 125,600 Quantity of $1,500 $1,550 $1,600 $1,650 $1,700 $1,750 136,500 112,750 107,000 100,100 98,450 95,000 92,800 $1.800 What is the market equilibrium quantity of apartments rented? O a) 112,750 O b) 125,600 Oc) 107,000 O d) 98,450 O e) 118,500
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