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Demand for apartment occupancy by the following elasticity coefficient, price elasticity = - 3.5, cross price elasticity with car products = 2.5 and income elasticity = 2.0. Identify whether each of the following statements is true or false and explain why : a. The demand for apartment occupancy curve has a negative slope b. An increase in the apartment price will decrease the quantity of apartment occupancy demanded and increase the total demand (TR) received by the seller c. Price elasticity identifies that a 2% decrease in the occupancy of an apartment will increase total revenue (TR) by 7%. d. A1094}. increase in apartment prices will reduce residential demand for apartments by 25% Demand for apartment occupancy by the following elasticity coefficient, price elasticity = - 3.5, cross price elasticity with car products = 2.5 and income elasticity = 2.0. Identify whether each of the following statements is true or false and explain why : a. The demand for apartment occupancy curve has a negative slope b. An increase in the apartment price will decrease the quantity of apartment occupancy demanded and increase the total demand (TR) received by the seller c. Price elasticity identifies that a 2% decrease in the occupancy of an apartment will increase total revenue (TR) by 7%. d. A1094}. increase in apartment prices will reduce residential demand for apartments by 25%