Use the following diagram to answer the following questions.

-Refer to Unit. If the price of housing is currently $90,000 per unit:

Question

Use the following diagram to answer the following questions.
 
-Refer to Unit. If the price of housing is currently $90,000 per unit:

Quizplus · Accepted Answer

According to the diagram, at a price of $90,000 per unit, there is an excess supply of units, indicated by the gap between the quantity supplied curve and the quantity demanded curve. This excess supply will put downward pressure on prices, suggesting a tendency for prices to fall.

Use the Following Diagram to Answer the Following Questions