If many more home sellers and builders have become more eager to sell their homes, we would expect to see:
a. an increase in equilibrium price and an increase in equilibrium quantity of homes sold.
b. an increase in equilibrium price and a decrease in equilibrium quantity of homes sold.
c. a decrease in equilibrium price and an increase in equilibrium quantity of homes sold.
d. a decrease in equilibrium price and a decrease in equilibrium quantity of homes sold.
c
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Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX. Compute the surplus received by consumers and producers.
A. $2 and $6, respectively. B. $24 and $24, respectively. C. $6 and $2, respectively. D. $4 and $4, respectively.
The liquidity approach to measuring the money supply uses
A. M1 plus some highly liquid assets. B. M1 only. C. near moneys only. D. M2 plus some highly liquid assets.