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7 December, 07:37

What effect would a rule stating that university students must live in university dormitories [no other alternative] have on the price elasticity of demand for dormitory space

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  1. 7 December, 09:23
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    Inelastic.

    Explanation:

    Elasticity of demand measures the sensitivity of demand of a product in relation to variables that affect it such as price, income, and prices of similar goods.

    Since such a rule leaves the students with no alternative therefore the demand for dormitory space would be unaffected by the rise in cost of those spaces.
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