. a) Consider the case of a school that meets the criteria for an imperfect public good, which means there is no tuition cost to attend (there are other costs incurred by the student of course). If the school is recognized by the Governor as the best in state, what is a potential effect in the housing market?| The house price will fall as the news will decrease demand for housing near the school. b. The house price will rise faster in markets with an inelastic supply of housing. New housing development will occur quickly in areas with relatively low land costs. New housing development will occur if and only if there are large increases in housing prices. e. b&c. b) Again consider the case of the state recognized public school. If school district administrators decide to expand enrollment and campus size a the demand for housing near the school could rise very quickly. b. the administrators must believe that the supply curve for teachers is highly inelastic. c. the administrators must believe that the supply curve for available land is highly inelastic. d. some households from other districts will reasses their choice and potentially move near the recently awarded school. e. a&d only. f. as & d are all possible