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1. Consider a setting in which buyers and sellers match bilaterally in housing market. Let B denote the number of potential buyers searching and S

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1. Consider a setting in which buyers and sellers match bilaterally in housing market. Let B denote the number of potential buyers searching and S then number of sellers each which a single vacant house for sale. Let the number of matches each period between buyers and sellers be given by: M(B, S) = ABo'Sl'\" 0

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