Question

If market analysis suggests there is need for a new condo development, but two developments are constructed across the street from each other, will supply and demand determine which is successful?

A)Yes, under the law of supply and demand, they will both be successful.
B)No, success will be determined by which project is completed first.
C)Success is likely to be based on something other than ""supply and demand,"" such as pricing.
D)No, the law of supply and demand suggests each building will be half full or empty.

Answer 1

The success of the condo developments will depend on factors other than supply and demand alone.The correct answer is option C.

Step-by-step explanation:

The correct answer is C) Success is likely to be based on something other than "supply and demand," such as pricing.

In this scenario, the market analysis suggests a need for a new condo development.

However, since two developments are constructed across the street from each other, the success of each project will depend on factors other than supply and demand alone.

One such factor is pricing. Each development may set different prices for their condos, attracting different types of buyers

Other factors that could influence the success of the developments include location, amenities, reputation of the developers, and marketing strategies.The correct answer is option C.