In a practical sense, write your opinions on the effect a rule stating that university students must live in university dormitories would have on the price elasticity of demand for dormitory space. What impact might this in turn have on room rates and attending university if at all?© BrainMass Inc. brainmass.com October 10, 2019, 4:05 am ad1c9bdddf
The law of demand says that consumers will buy more of the product if price decrease and that consumers would by less of a product if price increase. Regardless of the price increase or decrease, the amount of products that consumers would buy varies from product to product and over ...
This solution discusses whether university students should live in dormitories.