Homeowners insurance is a fee-based financial service. Illustrate graphically the impact of the following on the demand

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Homeowner’s insurance is a fee-based financial service. Illustrate graphically the impact of the following on the demand for homeowner’s insurance:

(a) a reduction in the price of homeowner’s insurance,

(b) a reduction in income, and

(c) a reduction in the price of new houses.

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