Suppose the price of cement goes up in the United States. What happens in the market for new homes?

Name: Suppose the price of cement goes up in the United States. What happens in the market for new homes?
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Question

Quizplus · Accepted Answer

When the price of cement increases, the cost of producing new homes also increases, leading to a decrease in supply. This is represented by the supply curve shifting upward and to the left.

Suppose the Price of Cement Goes Up in the United