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In the same period, the median price of a single-family

24 / 01 / 2019 Assignments

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In the same period, the median price of a single-family

b) In the same period, the median price of a single-family home in the region increased by 12 percent (faster than inflation). Can your diagram above explain why prices had to increase markedly during this period? Was the supply of housing inelastic or elastic?


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