If a press release reports that the future price of new homes is expected to decrease and demanders respond more to the change in the expected future price than suppliers, which of the following is true?
A) Both the equilibrium quantity and price will decrease.
B) Both the equilibrium quantity and price will increase.
C) The equilibrium price will decrease and the equilibrium quantity will increase.
D) The equilibrium price will increase and the equilibrium quantity will decrease.
Correct Answer:
Verified
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