Residents of cities with a reputation for good weather,ceteris paribus,
A) pay a higher price for housing because the demand for housing is higher.
B) pay a higher price for housing because the supply of housing is higher.
C) pay a higher price for housing because the supply and demand for housing is higher.
D) pay the same for housing as they would in cities with a reputation for bad weather.

Question

Quizplus · Accepted Answer

Cities with good weather tend to attract more people who are willing to pay a premium to live there. This drives up demand for housing, leading to higher prices.

Residents of Cities with a Reputation for Good Weather,ceteris Paribus