Based on the quantity demanded and supplied of the apartments, the following are true:
- Equilibrium rental price = $2,250
- Equilibrium apartments demanded = 12,500
- Equilibrium apartments supplied = 12,500
What is the Equilibrium price?
- This refers to the market price at which the quantity supplied to the market is equal to the quantity demanded by the market.
Equilibrium price for rentals
The equilibrium rental price here is $2,250 because at this price, the apartments demanded and those supplied are equal at 12,500.
Find out more on Equilibrium pricing at https://brainly.com/question/1600604.
