Exam 1 Flashcards I astet waiting for response h × chapter 6 problem set A Q Mac

Question

Exam 1 Flashcards I astet waiting for response h × chapter 6 problem set A Q Macro Set 4 Flashcards la Q Maa ch 4 Flash G Which statement i |https attempt 7187838page 4 which of the followw No results Options o d.increase in the demand for wine, increasing price Fin Question 26 Not yet answered P Flag question Points out of 1.0 Tin A newspaper reports that in an urban area the average price of new homes has decreased, but the number of new homes sold has increased. This situation would best be explained by a: Select one: a. decrease in demand (all else constant). ncrease in supply (all else constant). O c. increase in demand (all else constant) d, decrease in supply (all else constant). O O b increase in supply (all else constant

Explanation / Answer

b.

Increase in supply shifts supply curve to the right. This increased quantity sold and decreases equilibrium price.

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