Asked by
Haley Anderson
on Dec 11, 2024Verified
Suppose prices for new homes have risen and 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.
New Homes
Properties that are being offered for sale for the first time since their construction, often appealing to buyers seeking modern features and customization options.
Demand
The quantity of a product or service that consumers are willing and able to purchase at various prices.
Sales
Transactions in which goods or services are exchanged for money.
- Acquire knowledge on the effects of supply and demand changes on market equilibrium prices and quantities.
Verified Answer
MA
Learning Objectives
- Acquire knowledge on the effects of supply and demand changes on market equilibrium prices and quantities.