An owner whose property is in a strong market position,where fewer services can be offered to tenants for the same dollar of rental income and where the owner will not lose tenants if the property is undermaintained,is said to participate in a market that has a relatively:
A)elastic demand for space
B)inelastic demand for space
C)competitive demand for space
D)liquid demand for space

Question

Quizplus · Accepted Answer

Inelastic demand for space means that tenants are less sensitive to changes in rental rates and property conditions, and are less likely to move out even if the property is not well-maintained. Therefore, an owner in this market can offer fewer services without losing tenants and still receive the same amount of rental income, indicating a strong market position.

An Owner Whose Property Is in a Strong Market Position,where