(Answered) If 1000 college students move into a college dorm and they

Economics

If 1,000 college students move into a college dorm and they were 1,500 rooms available. Each room had a contract price of $3,000 dollars. If the college lowered the price to $2,500 dollars for the remaining rooms. How would I properly label the supply and demand graph?

On the vertical axis is the price and the horizontal axis is the quantity?

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