(Figure: Market for Homes) Suppose that people selling their homes fall prey to the sunk cost fallacy, refusing to sell at the going market price to avoid a nominal loss during an economic downturn. What price might these homeowners try to sell their homes for?

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The Answer of (Figure: Market for Homes) Suppose that people selling their homes fall prey to the sunk cost fallacy, refusing to sell at the going market price to avoid a nominal loss during an economic downturn. What price might these homeowners try to sell their homes for?

(Figure: Market for Homes) Suppose That People Selling Their Homes