Assume that the market for single family homes in southern California is initially in equilibrium. Then two
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Question:
Assume that the market for single family homes in southern California is initially in equilibrium. Then two events occur. First, a new study is published concluding that many firms in southern California are hiring workers for high-paying jobs. Second, there is a decrease in the cost of materials (inputs) used to build homes.
a
The equilibrium will be at C before the events and B after the events.
b
The equilibrium will be at B before the events and C after the events.
c
The equilibrium will be at A before the events and E after the events.
d
The equilibrium will be at E before the events and A after the events.
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