Suppose that the equilibrium price and quantity of new houses both increase. Which of the following could be a cause of this change? Group of answer choices a.The wage paid carpenters who build new houses might have risen. b.A technological advance in framing a new house might have occurred. c.The rent for nearby apartments might have fallen. d.More home buyers might have moved into the area. e.The cost of wood framing used to build houses might have fallen.
Suppose that the equilibrium price and quantity of new houses both increase. Which of the following could be a cause of this change? Group of answer choices a.The wage paid carpenters who build new houses might have risen. b.A technological advance in framing a new house might have occurred. c.The rent for nearby apartments might have fallen. d.More home buyers might have moved into the area. e.The cost of wood framing used to build houses might have fallen.
Chapter5: Markets In Motion And Price Controls
Section: Chapter Questions
Problem 10P
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Question
Suppose that the equilibrium price and quantity of new houses both increase. Which of the following could be a cause of this change?
Group of answer choices
a.The wage paid carpenters who build new houses might have risen.
b.A technological advance in framing a new house might have occurred.
c.The rent for nearby apartments might have fallen.
d.More home buyers might have moved into the area.
e.The cost of wood framing used to build houses might have fallen.
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