Suppose prices for new homes have risen, yet sales of new homes have also risen. We can conclude that:
A) the demand for new homes has risen.
B) the law of demand has been violated.
C) new firms have entered the construction industry.
D) construction firms must be facing higher costs.
Correct Answer:
Verified
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Q22: Exhibit 4-3 Supply and demand curves
Q23: Exhibit 4-3 Supply and demand curves
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