Business, 25.02.2020 19:02 Jxlly9338

The rent for 2-bedroom apartments in Detroit has fallen from an average of $796 in September 2014 to $717 in March 2015. Demand for 2-bedroom apartments inDetroit was falling during this period as well. This is hard to explain because the law of demand says that lower prices should lead to higher demand. Do you agree or disagree with this statement?
A. Disagree. A rightward shift of the demand curve would result in a lower price and a lowerquantity demanded.
B. Agree. This is hard to explain because a fall in prices should result in a higher quantitydemanded.
C. Agree. This is hard to explain because a rise in prices should result in a higher quantitydemanded.
D. Disagree. A leftward shift of the demand curve would result in a lower price and a lowerquantity demanded.

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The rent for 2-bedroom apartments in Detroit has fallen from an average of $796 in September 2014 to...

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