15. Consider the market for apartments. For each of the following events, draw a demand and...

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15. Consider the market for apartments. For each of the following events, draw a demand and supply graph and determine whether the equilibrium price of apartments will go up or down and whether the equilibrium quantity of apartments bought and sold will go up or down: Equilibrium price Equilibrium quantity Govt. starts giving out loans to homebuyers Price of cement used to build apartments increases A lot of foreign workers leave the country, reducing the demand for rental apartments Govt. starts giving out loans to homebuyers AND price of cement used to build apartments increases 15. Consider the market for apartments. For each of the following events, draw a demand and supply graph and determine whether the equilibrium price of apartments will go up or down and whether the equilibrium quantity of apartments bought and sold will go up or down: Equilibrium price Equilibrium quantity Govt. starts giving out loans to homebuyers Price of cement used to build apartments increases A lot of foreign workers leave the country, reducing the demand for rental apartments Govt. starts giving out loans to homebuyers AND price of cement used to build apartments increases