If a university passed a rule stating that university students must live in university dormitories, what effect would this have on the price elasticity of demand for dorm space? how might this rule affect room rates?.

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20-09-2022
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If a university passed a rule stating that university students must live in university dormitories, what effect would this have on the price elasticity of demand for dorm space? how might this rule affect room rates?.

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qwpeach qwpeach · Answer 1 · 2022-09-22T21:25:10+02:00

If a university passed a rule stating that university students must live in university dormitories then the price elasticity of demand would be more inelastic and room rates would increase.

If students are to be made mandatory to live in college dormitories then the price rates of the rooms would increase and there would be a huge inelasticity in the prices. As everyone would have to stay in the dorms they would be overcrowded than usual because usually dorms are for the people that have come from any other foreign city or country.

This will also lead to overpopulated living areas that would definitely make the students uncomfortable and hard to study.

To know more about dorms refer to the link below

https://brainly.com/question/10449787

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