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Assume the following policy change is implemented: The Australian Government offers $30,000 grants for first homebuyers. Explain how this policy change may influence the housing

Assume the following policy change is implemented: The Australian Government offers $30,000 grants for first homebuyers. Explain how this policy change may influence the housing market and who will get the most benefits from this grants scheme. Draw and label a demand and supply diagram to illustrate your explanation.

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