Suppose That the Equilibrium Price and Quantity of New Houses

question 86

Multiple Choice

Suppose that the equilibrium price and quantity of new houses both increase.Which of the following could be a cause of this change?

• A)The demand for new houses increased,and the supply did not change.
• B)The supply of new houses increased,and the demand for new houses did not change.
• C)Both the supply and demand for new houses decreased.
• D)The supply of new houses decreased,and the demand for new houses did not change.
• E)Both the supply and the demand for new houses increased,and the supply increased by more than the demand.

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Definitions:

Methylpropane

Another term for isobutane, a branched alkane with the formula \(C_4H_{10}\), used as a refrigerant and a propellant in aerosol sprays.

Methyl Isobutyrate

An organic compound with the formula C5H10O2, used as a flavoring agent and solvent.

Acid Chloride

Organic compounds belonging to the acyl chloride group, characterized by a carbon-oxygen double bond connected to a chlorine atom, used as intermediates in organic synthesis.

2° Amine

A type of amine where the nitrogen atom is attached to two alkyl or aryl groups and one hydrogen atom.