Modeling apartment Demand Demand: Suppose the most any one person is willing to pay to rent a close apartment is $500/month. Then $500→Q=1 Suppose the price has to drop to $490 before a 2nd person would rent. Then p=$490→Q=2.Modeling Apartment Demand Demand: Suppose the most any one person is willing to pay to rent a close apartment is $500/month. Then p = $500  QD = 1. Suppose the price has to drop to $490 before a 2nd person would rent. Then p = $490  QD = 2