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A New York real estate firm priced a house they were selling below reasonable expectation regarding an unknown equilibrium price. Why ? Explain the firms strategy using economic theory

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 12P

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A New York real estate firm priced a house they were selling below reasonable expectation regarding an unknown equilibrium price. Why ? Explain the firms strategy using economic theory

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