The "supply of new houses" in Houston is best understood to mean which of the following ? A. As the price of new houses in Houston fell in 2020, builders built fewer new houses. B. The number of new houses purchased in Houston in 2020. C. The quantity of new houses that builders are willing and able to build at various prices in a given period of time. D. The number of new houses built in Houston in 2020.
The "supply of new houses" in Houston is best understood to mean which of the following ? A. As the price of new houses in Houston fell in 2020, builders built fewer new houses. B. The number of new houses purchased in Houston in 2020. C. The quantity of new houses that builders are willing and able to build at various prices in a given period of time. D. The number of new houses built in Houston in 2020.
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter9: Price Takers And The Competitive Process
Section: Chapter Questions
Problem 14CQ
Related questions
Question
The "supply of new houses" in Houston is best understood to mean which of the following ?
A. |
As the price of new houses in Houston fell in 2020, builders built fewer new houses. |
|
B. |
The number of new houses purchased in Houston in 2020. |
|
C. |
The quantity of new houses that builders are willing and able to build at various prices in a given period of time. |
|
D. |
The number of new houses built in Houston in 2020.
|
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